TAIEX shares dive 3.79%; turnover highest recorded
HEAVY LOSSES: Concerns about an increase in domestic COVID-19 cases and an overnight plunge in technology stocks in the US caused the sell-offs, local dealers said
Staff writer, with CNA
The TAIEX took a beating yesterday, led by the bellwether electronics sector, as an overnight plunge in technology stocks on US markets sparked selling.
The heavy, across-the-board losses also reflected cautious market sentiment amid worries over an increase in domestically transmitted COVID-19 cases, which prompted the government to tighten its disease prevention measures, including by banning large gatherings, dealers said.
The TAIEX closed down 652.48 points, or 3.79 percent, at 16,583.13. Yesterday’s decline was the third-worst ever, trailing only a plunge of 660.72 points (5.75 percent) on Oct. 11, 2018, and a drop of 696.97 points (6.31 percent) on Jan. 30 last year, Taiwan Stock Exchange
Taiwan shares end down on tech losses
05/10/2021 06:15 PM
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Taipei, May 10 (CNA) Shares in Taiwan closed lower Monday as investors rushed to lock in gains built up in the electronics sector, particularly semiconductor stocks, a session earlier, dealers said.
Buying rotated to non-tech stocks in the raw material industry amid optimism toward a global recovery in demand, and the financial sector also attracted bargain hunting, which prevented the broader market from falling further, the dealers added.
The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended down 49.39 points, or 0.29 percent, at 17,235.61, after moving between 17,188.15 and 17,304.47. Turnover totaled NT$490.215 billion (US$17.51 billion).
TAIEX is consolidating, minister says
BUBBLE INSURANCE? First Capital Management chairman Edward Chen said that the corrections reduce bubble pressure and steady the TAIEX after a rise in margin trading
By Crystal Hsu / Staff reporter
Minister of Finance Su Jain-rong (蘇建榮) yesterday urged investors to remain calm, calling declines in the local bourse on Monday and yesterday a common period of consolidation following last month’s recurrent rallies to record highs on the back of an economic boom.
The TAIEX yesterday shed 288.57 points, or 1.68 percent, to 16,933.78 on an unprecedented turnover of NT$664.2 billion (US$23.762 billion) amid panic selling by day traders, analysts said.
Taiwan shares bounce back from early losses to reach record high
04/20/2021 06:37 PM
CNA file photo
Taipei, April 20 (CNA) Shares in Taiwan closed at a new high Tuesday, as bargain hunters took advantage of the main board s early losses to pick up some large-cap stocks, dealers said.
Contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) and China Steel Corp., the largest steel maker in the country, were the two favorites, particularly in late trading, dealers said.
The Taiex, the weighted index on the local market, ended up 60.59 points, or 0.35 percent, at an all-time high of 17,323.87, breaking its record for the fifth day in a row. Turnover totaled NT$439.67 billion (US$17.70 billion).
Taiwan shares end at new high led by non-tech stocks
04/19/2021 05:50 PM
CNA file photo
Taipei, April 19 (CNA) Shares in Taiwan rallied Monday as buying rotated to non-tech stocks, in particular raw material and shipping firms with investors betting on a strong global economic recovery, dealers said.
Interest in old economy and financial stocks offset the downturn suffered by large cap electronics stocks such as contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) and other semiconductor heavyweights, helping the broader market to close at a record high, they said.
The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended up 104.47 points, or 0.61 percent, at 17,263.28, after moving between 17,135.52 and 17,294.15. Turnover totaled NT$440.37 billion (US$15.62 billion).