Taiwan stocks dip

Taiwan stocks shed 1.47 percent on Monday to close at their lowest since January 29, pressured by financial shares which tumbled 2.3 percent after the terms of a bailout proposal for Cyprus raised fears of a run on some banks in the region. The main TAIEX index lost 116.15 points to 7,811.34, after opening down 0.51 percent.
Electronics shares eased 1.4 percent, with heavyweight chipmaker TSMC down 2.4 percent. Smartphone vendor HTC Corp, however, bounced 2.4 percent. The Taiwan dollar edged up T$0.017 to stand at T$29.745 to the US dollar.