March 24, 2014 / 2:10 AM / 4 years ago

Taiwan stocks fall after protesters storm government building

TAIPEI, March 24 (Reuters) - Taiwan stocks dropped 0.33
percent Monday morning, extending the previous session's 0.23
percent drop, after multi-day protests against a trade pact with
mainland China turned violent on Sunday night.
    The main TAIEX index fell 28.45 points to 8548.72 as
of 0200 GMT after police forcibly removed hundreds of people
from the main headquarters of Taiwan's executive branch on
Sunday night, in the latest escalation of protests against a
controversial China trade pact. 
    Automobiles and oil, gas and electric shares 
showed the most marked declines among major subindexes, tumbling
1.19 and 1.02 percent, respectively.
    Electronics fell 0.36 percent and semiconductors
 suffered a 0.59 percent drop.
    On Monday, local media reported that Taiwan Semiconductor
Manufacturing Co Ltd, the world's largest contract
chipmaker, is facing a potential bottleneck in production of one
of its more advanced chip models. Shares in the company were
down 0.44 percent.
    The Taiwan dollar was up T$0.065 to stand at
T$30.587 to the U.S. dollar.

 (Reporting by Michael Gold; Editing by Gopakumar Warrier)

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