Taiwan: Stocks tumble as economic woes hit tech firms
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[TAIPEI] Taiwan stocks sank on Monday as semiconductor firms were knocked by a worsening outlook for the trade-reliant economy.
Bellwether TSMC was off 2.9 per cent, while Mediatek dropped limit down 10 per cent.
As of 0137 GMT, the main TAIEX index fell 1.9 per cent, to 8,497.42 points, after closing up 0.2 per cent in the previous session.
The electronics subindex sank 2.3 per cent, while the financials subindex lost 1.4 per cent. The semiconductor subindex tumbled 3.2 per cent.
On Friday, Taiwan reported its lowest quarterly economic growth in three years as a collapse in exports took a toll on tech manufacturers.
The Taiwan dollar firmed T$0.073 to T$31.609 per US dollar.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
