Taiwan stocks sink most in 14 months on virus woes and tech rout Sorry, but your browser needs Javascript to use this site. If you re not sure how to activate it, please refer to this site: https://www.enable-javascript.com/
A man walks past a monitor showing a stock chart outside the Taiwan Stock Exchange in Taipei on Wednesday. | AFP-JIJI
Bloomberg May 12, 2021
Taiwan stocks slumped the most since March last year 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% lower after slumping as much as 8.6% in morning trading, the worst intraday loss since 1969. Having fallen 9.6% from an April high, the gauge narrowly missed a technical correction. Heavyweight Taiwan Semiconductor Manufacturing Co. and Hon Hai Precision Industry Co. were among the biggest drags, down 1.9% and 4.7%, respectively, on Wednesday.
DUBAI: There is scope for a recovery in some cyclical Dubai stocks but don’t wait until the party has already started! That was the message from Credit Suisse Head of MENA Research Fahd Iqbal who told Bloomberg Daybreak Middle East that the emirate could benefit from a rebound in some sectors. Dubai’s tourism sector has been battered by the pandemic while a prolonged slump in property prices has added to the malaise. However a rapid vaccination program has encouraged hopes for a recovery in some cyclical sectors. Dubai shares have gained by about 2.2 percent since the start of the year, well behind regional heavyweight Saudi Arabia, where the Tadawul stock exchange has advanced 10.4 percent over the same period.