TAIPEI: Taiwan stocks fell on Friday on profit-taking after the world's largest contract chipmaker TSMC reported a record fourth-quarter profit but forecast slower business for its first quarter.

Asian shares wobbling also kept overall trading cautious.

As of 0330 GMT, the main TAIEX index was down 0.4 percent at 9,371.82, after closing up 0.7 percent in the previous session.

The electronics subindex fell as much as 0.6 percent, while the financials subindex lost up to 0.7 percent.

Shares in TSMC dropped as much as 2.2 percent, after the company expected its first-quarter revenue to likely dive at least 8.7 percent from the fourth quarter. The stock had closed up 1.4 percent in the previous session, just before the earnings results were reported.

After a record fourth quarter for net profit and revenue, normal seasonal lull from smartphone customers were mainly behind the lower forecasts, TSMC said.-Reuters