Taiwanese shares took a beating yesterday as the benchmark TAIEX fell to its lowest point in almost one year, as market worries remained over planned rate hikes by the US Federal Reserve, dealers said.
The bellwether electronics sector continued its downtrend, led by large-cap semiconductor stocks, while the financial sector saw a sell-off as investors rushed to downsize their portfolios amid market volatility, they said.
The TAIEX at its close was down 359.28 points, or 2.19 percent, at the day’s low of 16,048.92. Turnover totaled NT$239.82 billion (US$8.07 billion), with foreign institutional investors selling a net NT$21.15 billion of shares on the
Listed companies posted a combined profit of NT$1.27 trillion (US$43.62 billion) from their overseas investment last year, led by the shipping, semiconductor and electronic components sectors, the Financial Supervisory Commission (FSC) said on Tuesday.
Last year’s figure represents an increase of NT$638 billion from 2020 and is the highest over the past decade.
Shipping companies reported combined gains of NT$427.3 billion from overseas investments, compared with NT$50.5 billion a year earlier, thanks to higher freight rates, the commission said.
Electronic component makers followed with investment gains of NT$163.2 billion, up 30.14 percent from NT$37.8 billion a year earlier, due to higher smartphone
Asian equities witnessed steep foreign outflows in March, hit by worries over higher inflation as commodity prices soared due to an escalating conflict between Russia and Ukraine.
Yuanta Securities Co (元大證券) and President Securities Corp (統一證券) yesterday said that their sub-brokerage trading systems were hacked, with several clients buying Hong Kong-listed stocks against their will.
President Securities said in a statement that a sub-brokerage trading account belonging to one of its clients showed abnormal activity on Thursday afternoon and further investigation revealed that seven such accounts had purchased Hong Kong stocks, despite the owners not placing such orders.
The company blocked suspicious network segments, notified the clients and asked them to change their passwords, and suspended its digital trading channel for suspicious stocks, it said.
Yuanta Securities also reported that