May 16, 2017 / 3:30 AM / 3 months ago

Taiwan stocks fall; TSMC down on profit taking

    TAIPEI, May 16 (Reuters) - Taiwan stocks fell on Tuesday,
dragged down by big cap Taiwan Semiconductor Manufacturing Co
Ltd (TSMC)           on continued profit taking. 
    The main TAIEX index         continued to flirt with the key
10,000 mark and was down 0.3 percent at 10,002.27 as of 0305
GMT, after closing 0.5 percent higher in the previous session.
    On Monday, it closed above the 10,000 level for the second
time since last week when it posted its highest close in 17
years. 
    The index needs to consolidate around this level before
gaining further, traders say.
    The electronics subindex         sank 0.6 percent, while the
financials subindex         was unchanged.
    Shares of TSMC, the world's largest contract chipmaker, were
off 1.2 percent, as investors continued to book profits after
the stock gained around 11 percent from mid-April to last 
week. 
    The Taiwan dollar          firmed T$0.063 to T$30.095 per 
U.S. dollar.

 (Reporting by J.R. Wu; Editing by Subhranshu Sahu)
  

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