Taiwan shares down over 100 points Monday morning on tech losses
07/19/2021 11:48 AM
CNA file photo
Taipei, July 19 (CNA) Taiwan shares moved lower by more than 100 points Monday morning as large tech stocks came under pressure in the wake of losses incurred by their counterparts on the U.S. markets at the end of last week, dealers said.
With the bellwether electronics sector moving lower, buying rotated to select old economy stocks, in particular in the shipping and steel industries, which prevented the broader market from falling further, dealers said.
As of 10:47 a.m., the Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), had lost 132.67 points, or 0.74 percent, at 17,762.58 on turnover of NT$279.04 billion (US$9.97 billion).
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by Tyler Durden
Thursday, Jul 15, 2021 - 07:40 PM
It isn t just the U.S. where Taiwan Semiconductor is looking to expand its footprint. Not only has TSMC made headlines for proposing to expand production into the United States, as we have documented numerous times, but now it is making headlines for how it has become the center of the semiconductor world - and how that can leave the world vulnerable.
Now, the semi giant, in the midst of a global semi shortage, is looking to deploy new infrastructure in Japan for the first time in the company s history, according to Nikkei. The plans are not included in TSMC s already-disclosed three year, $100 billion capex budget for expansion.
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