Taiwan stocks down

Taiwan stocks fell 0.56 percent on Monday after reaching a more than two-and-a-half-year closing high as investors took profits from tech firms on lingering fears over the impact on their profits from a stronger Taiwan dollar. The main TAIEX share index closed down 49.18 points at 8,768.72.
Top contract chipmaker TSMC was the market's most active stock by turnover, down 2.33 percent and pulling the electronics sub-index 0.93 percent lower. The loss came even after the company said its research and development spending would rise next year.
Tourism shares defied weakness, up 0.3 percent after a report that Taiwan is likely to allow up to 4,000 Chinese tourists to visit Taiwan each day from next year, higher than the daily amount of 3,000 now. Another report said 41 hotel operators plan to invest a total of more than T$77.5 billion ($2.5 billion) in the next six years to build new hotels on hopes of increased Chinese tourists to Taiwan.