October 11, 2016 / 4:10 AM / a year ago

Taiwan stocks down on profit-taking, TSMC eases ahead of Q3 results

TAIPEI, Oct 11 (Reuters) - Taiwan stocks fell on Tuesday on
some profit-taking after having hit their highest closing level
in more than a year earlier this month.
    As of 0401 GMT, the main TAIEX index was down 0.8
percent at 9,189.86 points, after closing down 0.2 percent on
Friday. Last week, the index had touched its highest close since
July 2015. 
    Taiwan's financial markets were shut on Monday for the
National Day holiday. 
    After the market shut on Friday, the government reported
exports in September dropped unexpectedly, even though key tech
shipments grew, taming some optimism over the strength of the 
recovery for the trade-dependent economy. 
    The electronics subindex shed 0.7 percent, while the
financials subindex lost 0.5 percent. 
    Bellwether chipmaker TSMC erased early gains to
trade down 0.5 percent. The world's largest contract chipmaker
is due to issue its third-quarter results on Thursday, and its
outlook for global demand on tech products is widely watched by
market participants. 
    The Taiwan dollar softened T$0.18 to T$31.660 per
U.S. dollar.  

 (Reporting by J.R. Wu; Editing by Sunil Nair)
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