TAIPEI: Taiwan stocks erased earlier loss to trade flat on Tuesday as government funds were seen stepping in to buy heavyweights including TSMC , though concerns over Greece's worsening financial crisis lingered.
Taiwan Semiconductor Manufacturing Co (TSMC), the world's top contract chipmaker, rose 1.2 percent. Hon Hai Precision , a major manufacturing supplier of Apple , was up 0.9 percent.
"You can see clearly that heavyweights are getting buying from state funds," said J.J. Lee, chief investment officer at Fubon Financial .
"Corporate fundamentals are really not that bad. It's just investors are running out of confidence," he said, adding the benchmark index had firm support at 6,600-6,700 points.
About an hour into trade, the main TAIEX index had dipped 0.06 percent or 4.48 points to 7,009.49, recovering from a decline of almost 2 percent early in the session.
Among decliners, construction and automobile both shed over 1.4 percent. The heavily-weighted electronics sub-index climbed 0.13 percent.
The Taiwan dollar weakened by T$0.092 to stand at T$30.679.
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