TAIPEI: Taiwan stocks were steady on Tuesday, but TSMC and other chip makers declined after Intel Corp agreed to buy chip designer Altera Corp for $16.7 billion. Taiwan Semiconductor Manufacturing Co (TSMC), the world’s top contract chip maker, shed 0.7 percent as some investors were concerned the merger would cut Altera’s orders to TSMC.
About 20 minutes into trade, the main TAIEX index inched up 0.01 per cent at 9,626.66, with semiconductor shares and electronics shares both off 0.3 per cent. On Monday, the benchmark index fell 0.8 per cent on concerns that a new rule to lift the maximum daily stock-price movement limit to 10 percent from 7 percent would increase volatility in the market. The new rule was implemented on Monday.
