TAIEX posts year’s biggest one-day loss
CAUGHT OFF GUARD: A jump in the US Treasury yield might have surprised investors, putting pressure on equities as the 10-year yield outperformed stocks, an analyst said
By Kao Shih-ching
The TAIEX yesterday closed down 498.38 points, the largest one-day loss this year, as foreign institutional investors sold a record net NT$94.4 billion (US$3.33 billion) of local shares, likely prompted by the advancing 10-year US Treasury yield, analysts said yesterday.
The weighted index plunged 358 points to 16,094.93 points soon after the market opened, before gradually recouping some losses to end the day 3.03 percent lower at 15,953.8 points, on turnover of NT$432.112 billion, Taiwan Stock Exchange data showed.
《TAIPEI TIMES》 TAIEX posts year s biggest one-day loss - 焦點
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Taiwan shares dive below 16,300 points, led by tech stocks
02/24/2021 06:43 PM
CNA file photo
Taipei, Feb. 24 (CNA) Shares in Taiwan took a beating Wednesday, closing below the 16,300-point mark, as the semiconductor sector and other tech stocks followed a downturn of their counterparts in the United States, dealers said.
Contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), the most heavily weighted stock on the local market, led the tech sector s losses, while large-cap old economy stocks weakened after showing some resilience the previous day, dealers said.
The Taiex, the benchmark weighted index on the Taiwan Stock Exchange (TWSE), ended down 230.87 points, or 1.40 percent, at the day s low of 16,212.53, after hitting a high of 16,456.94. Turnover stood at NT$382.96 billion (US$13.78 billion).
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