TAIPEI: Taiwan stocks fell on Friday as gains due to higher overseas markets and buying in chipmaker TSMC were offset by general caution ahead of the weekend.
As of 0151 GMT, the main TAIEX index was down 0.1 percent at 9,031.66, after closing down 0.1 percent in the previous session.
The electronics subindex rose 0.2 percent, while the semiconductor subindex was 1 percent higher. The financials subindex lost 0.3 percent.
Shares in TSMC, a heavy weight on the local bourse, rose 1.8 percent. The world’s largest contract chipmaker said Thursday after market close that its second-quarter net profit rose 33 percent from a year earlier, beating forecasts.
TSMC, however, said it expected revenue in the third quarter to rise just 2.2 percent from the second quarter.
On Sunday, Taiwan’s ruling party congress is set to meet to formally nominate its presidential candidate for the January 2016 vote amid discord among members on whether the only person to have hurdled the primary process, Hung Hsiu-chu, is the best representative for the party.
