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The TAIEX slid again yesterday, declining more than 20 percent from a January high and entering a bear market. The weighted index closed 3.3 percent lower in Taipei. Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which accounts for more than one-quarter of the index’s weighting, declined 4.73 percent to close at NT$4,553.5 amid broad weakness in the chip sector following Micron Technology Inc’s disappointing forecasts. Tech-heavy equity markets in Taiwan and South Korea were among the worst performers in Asia last quarter, both down more than 15 percent amid rate hikes by global central banks. Foreign investors net sold more than US$16 ....
Market watchers said they were positive about the performance of local equities after all four referendum items were on Saturday rejected by a narrow margin, which helped clear uncertainty in the market over the government’s economic policies. Although President Tsai Ing-wen’s (蔡英文) administration would be able to continue its policies on pork imports and energy transition following the vote, stock market movement still depends on corporate earnings and the nation’s economic fundamentals, analysts said. Despite a low turnout, voters rejected four referendum questions which asked whether to ban imports of pork containing traces of the leanness-enhancing additive ractopamine, relocate a liquefied natural ....
Taipei (BLOOMBERG) - Taiwan stocks slumped the most since March last year on Wednesday (May 12) as concern over further tightening of coronavirus-linked restrictions and a global tech selloff spooked investors. The Taiwan Stock Exchange Weighted Index finished the session 4.1 per cent lower after slumping as much as 8.6 per cent in morning trading, the worst intraday loss since 1969. Having fallen 9.6 per cent from an April high, the gauge narrowly missed a technical correction. Heavyweight Taiwan Semiconductor Manufacturing Co and Hon Hai Precision Industry were among the biggest drags, down 1.9 per cent and 4.7 per cent, respectively. The selloff marks a sharp turn for the equity index which ranked among Asia s best performers before it started to retreat at the end of April. ....
People wearing protective face masks wait for the metro, during the coronavirus disease (COVID-19) pandemic, in Taipei, Taiwan, May 11, 2021. REUTERS/Ann Wang TAIWAN stocks plunged as concern over further tightening of coronavirus-linked restrictions and a global tech selloff spooked investors. The Taiwan Stock Exchange Weighted Index (Taiex) was in freefall during mid-morning trading, slumping as much as 8.6% before paring the losses to 5.9% as of 12:22 p.m. local time. Heavyweight Taiwan Semiconductor Manufacturing Co. and Hon Hai Precision Industry Co. were among the biggest drags, and more than a hundred stocks on the gauge fell by the daily 10% limit. Wednesday’s selloff marks a sharp turn for the equity index which ranked among Asia’s best performers before it started to retreat at the end of April. Taiwan may elevate its alert level on Covid-19 further today after banning large gatherings Tuesday, Taipei-based Liberty Times reported, citing health minister C ....