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Taiwan stocks flat; construction drags on Farglory scandal
June 9, 2014 / 2:00 AM / 3 years ago

Taiwan stocks flat; construction drags on Farglory scandal

TAIPEI, June 9 (Reuters) - Taiwan stocks were flat on Monday
morning, dragged down by construction holdings as investors
grappled with the continued fall-out of a bribery scandal at a
major builder.
    The main TAIEX index rose 5.19 points to 9139.65 as
of 0148 GMT, largely trailing other regional and global bourses,
after closing flat in the previous session.
    Construction was down 0.7 percent. The subindex has
been battered by an ongoing bribery scandal at major real-estate
developer Farglory Land Development Co Ltd, which fell
4 percent. 
    The electronics subindex rose 0.27 percent, helped
by chip maker MediaTek Inc, which reported record
monthly sales for May. The stock saw a 2 percent gain.
    This eclipsed a rise of 0.1 percent in the overall
semiconductors subindex.
    The Taiwan dollar was up T$0.071 to stand at
T$30.009 to the U.S. dollar.

 (Reporting by Michael Gold; Editing by Gopakumar Warrier)

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