TSMC approves $50 mln possible solar investments

TAIPEI Aug 11 (Reuters) - Top contract chip maker TSMC (2330.TW) said on Tuesday its board approved appropriation of $50 million for possible investments in solar energy-related areas, as part of its efforts to diversify into the solar market.

TSMC (TSM.N) announced the news after the Taipei stock market closed on Tuesday. TSMC shares fell 1.2 percent, while the main TAIEX .TWII rose 0.4 percent. (US$1=T$32.8) (Reporting by Baker Li, Editing by Jacqueline Wong)