Taiwan stocks lower; TSMC rallies

Taiwan stocks closed down 0.14 percent on Monday, but chipmaker Taiwan Semiconductor Manufacturing Co Ltd ended higher after saying it may raise 2012 capital expenditure. The main TAIEX index shed 11.02 points to 8,043.92, dragged by the plastics sub-index and autos, both of which declined more than 1 percent. TSMC, the world's top contract chipmaker, gained 3.2 percent after saying it may raise 2012 capital expenditure to enhance 28nm process technology and meet rising demand.
The electronics sub-index closed 0.2 percent higher. Cathay Financial Holding Co Ltd climbed 1.88 percent after saying it planned a share issue and bond sale. The Taiwan dollar rose by T$0.053 to stand at T$29.509. Foreign investors were net sellers on Friday, bringing their total buying to T$27.8 billion this month.