Taiwan stocks drop to near two-week low; TSMC weighs

The main TAIEX index dropped 1 percent, to 8,965.01 points, its lowest level since early September.

By: Reuters | Taipei | Published:September 12, 2016 12:17 pm
Taiwan, Taiwan economy, TSMC, TAIEX, Taiwan dollar, US dollar, US fed rates, Taiwan markets, Taiwan news, business news, world markets, latest news, Indian express Asian shares skid on Monday with investors rattled by rising bond yields and talk that the Federal Reserve might be serious about lifting U.S. interest rates as early as next week. (File Photo)

Taiwan stocks fell to a near two-week low on Monday as declines on Wall Street during the weekend hit market sentiment for a second day, with heavyweights such as TSMC leading the way.

As of 0237 GMT, the main TAIEX index dropped 1 percent, to 8,965.01 points, its lowest level since early September.

It ended at a one-week low in a supplementary session on Saturday.

The electronics subindex fell 1 percent, while the financials subindex lost 0.7 percent.

Taiwan Semiconductor Manufacturing Co (TSMC), the world’s top contract chip maker and supplier for Apple Inc, slipped as much as 1.7 percent.

The Taiwan dollar softened T$0.126 to T$31.678 per US dollar.

Asian shares skid on Monday with investors rattled by rising bond yields and talk that the Federal Reserve might be serious about lifting US interest rates as early as next week.