Taiwan stocks dip

Taiwan stocks ended down 0.88 percent on Monday, pulled down by concerns over company profits after the government allowed state-run oil firm CPC Corp to raise fuel prices by an average 10.7 percent, though oil firms themselves benefited. The main TAIEX index fell 70.10 points to 7,862.90, weighed by glass and automobiles, which were both down more than 2 percent.
Oil and gas stocks gained 0.85 percent. Chimei Innolux, the world's No 3 flat panel maker, erased earlier losses to close flat. The company reported a T$64.44 billion ($2.18 billion) loss for 2011.