MARKET CRUTCH:Taiwan Semiconductor Manufacturing announced a generous cash dividend for earnings made last year, which helped prop up the main board
Date: Feb 04, 2016
By: Staff writer, with CNA
The TAIEX shed 0.84 percent to 8,063 yesterday, ending the Year of the Goat with a 15.3 percent decline as investors grew uneasy over further volatility in global markets after Wall Street took a hit and international oil prices plunged, dealers said.
Selling focused on financial stocks amid fears that they would incur heavy losses from their overseas investments at a time of instability in the world economy, while Apple Inc-linked stocks trended lower due to lingering worries over shipments of the next generation of iPhones, they said.
Bucking the TAIEX fall, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, lent support to the local bourse after the company announced a generous cash dividend proposal for earnings made last year, they added. [FULL STORY]