Taiwan stock market records fourth-largest loss in history
TAIPEI -- The TAIEX, the weighted index on the Taiwan Stock Exchange, plunged 830.7 points to close at 22,694.71 points on Monday, recording the fourth largest single-day loss in its history.
On the first trading day after the region's Spring Festival holiday, the index plummeted 3.53 percent from the previous trading session, led by losses in semiconductor and artificial intelligence shares.
Among the major weighted stocks in the TAIEX, Taiwan Semiconductor Manufacturing Company dropped by 5.73 percent and Hon Hai Precision Industry Co fell by 8.06 percent.
Analysts say that US tariff hikes have largely influenced the sharp decline in Taiwanese stocks. If future tariff increases impact the region's semiconductor exports or supply chains, the Taiwanese stock market could face even greater pressure.
The previous three largest single-day drops all occurred in the third quarter of last year.
- Sanya activates red alert as Typhoon approaches
- Recall vote shows 'Taiwan independence' separatism doomed to fail
- China holds third rehearsal for event marking 80th anniversary of victory over Japanese aggression, fascism
- Central delegation returns to Beijing after attending anniversary celebrations, inspections in Xizang
- KMT continues triumph in second round of recall vote
- China's anti-graft chief urges further improving discipline inspection work
