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Taiwan stocks down on profit-taking; technology stocks drag
October 14, 2016 / 2:57 AM / a year ago

Taiwan stocks down on profit-taking; technology stocks drag

TAIPEI, Oct 14 (Reuters) - Taiwan shares fell on Friday,
dragged down by technology stocks including Taiwan Semiconductor
Manufacturing Co Ltd (TSMC), as investors booked
profits after the chipmaker reported earnings. 
    As of 0232 GMT, the main TAIEX index fell 0.4
percent to 9,183.38 points, after closing down 0.4 percent in
the previous session.
    TSMC shares were off 0.3 percent mainly on profit-taking as
the shares had risen about 30 percent since May.
    The world's largest contract chipmaker, which supplies
chips used in Apple Inc's iPhone 7, raised its revenue
forecast for this year after reporting quarterly records in
net profit and revenue for the third quarter. 
    The electronics subindex sank 0.5 percent, while the
financials subindex lost 0.1 percent. 
    The Taiwan dollar firmed T$0.08 to T$31.680 per
U.S. dollar.   

 (Reporting by J.R. Wu; Editing by Amrutha Gayathri)

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