Taiwan stocks fell 0.31 percent on Tuesday as investors pocketed profits from tech shares such as Mediatek before they see signs of stronger demand and ahead of the central bank’s policy-setting meeting.
The main TAIEX gave up early gains to close down 24.11 points at 7,811.87. Mediatek, Taiwan’s top chip designer and the market’s most actively traded share by turnover, slid 2.1 percent, pulling the tech sector 0.11 percent lower.
Taiwan’s central bank is widely expected to leave its key interest rate at a record low on Thursday, but analysts say the market focus will be on whether it announces any fresh measures to cool the island’s booming property prices. (US$1=T$31.8)