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Taiwan shares plunge amid surge in COVID-19 cases
05/17/2021 06:05 PM
CNA file photo
Taipei, May 17 (CNA) Shares across the board in Taiwan took a beating Monday as fears mounted over a surge in COVID-19 cases and the imposition of restrictions on people s movements and business activity.
Both tech and non-tech sector stocks came under heavy pressure, while buying emerged in select biotech stocks and food suppliers on hopes that the disease will push up their sales, dealers said.
The Taiex, the Taiwan Stock Exchange s weighted index, ended down 473.20 points, or 2.99 percent, at 15,353.89, after moving between 15,159.86 and 15,719.74. Turnover totaled NT$480.19 billion (US$17.12 billion).
Taiwan shares end up but come off high
05/14/2021 05:21 PM
CNA file photo
Taipei, May 14 (CNA) Shares in Taiwan staged a technical rebound to close 1 percent higher Friday after heavy losses over the past three trading sessions, with investors picking up bargains, in particular in the bellwether electronics sector in the wake of a rally on U.S. markets overnight, dealers said.
However, gains were capped ahead of stiff technical resistance at around 16,000 points, with the market concerned by rising domestically transmitted COVID-19 cases as well as possible volatility among U.S. tech stocks on their high valuations, they said.
The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended up 156.99 points, or 1 percent, at 15,827.09, after moving between 15,702.10 and 16,075.48. Turnover totaled NT$510.51 billion (US$18.25 billion).
Taiwan shares rebound led by tech stocks
05/14/2021 11:13 AM
CNA file photo
Taipei, May 14 (CNA) Taiwan shares staged a technical rebound Friday morning, as bargain hunters took advantage of the heavy losses in the previous three sessions to pick up large-cap tech stocks, dealers said.
The gains, however, were capped ahead of 16,000 points, as market sentiment remained haunted by worry over the growing number of domestic COVID-19 cases, dealers said.
As of 10:10 a.m., the Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), was up 255.32 points, or 1.63 percent, at 15,925.42, after an earlier high of 16,075.48. The bellwether electronics sector had gained 2.19 percent.
By Reuters Staff
(Adds power resumed, UMC comment)
TAIPEI, May 13 (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s biggest contract chipmaker, said some of its facilities experienced a “brief power dip” on Thursday after an island-wider power outage, raising concerns that a global chip shortage could worsen.
The shortage began late last year and has since affected several industries, from automobiles to smartphones and home appliances, forcing many car makers to halt production lines.
It was worsened in recent months by a fire at a chip plant in Japan and blackouts in Texas, where a number of chipmakers have factories.