Tech Stocks Plunge, Taiwan Stocks Fall Sharply by 1478 Points in Historic Drop

(CNA Reporter Tseng Jen-kai, Taipei, 10th) Selling pressure emerged in technology stocks, putting the Taiwan stock market under pressure today. The market fell sharply after midday, with the weighted index closing at the day's low of 43,225.54 points, down 1,478.90 points. It fell below the monthly moving average of around 43,349 points, marking the 6th largest closing drop in history. The 1,201 points the market gained in a strong rebound yesterday were completely erased today. The transaction value was approximately NT$1.3240 trillion.

Among the four major heavily-weighted stocks, TSMC closed down NT$50 or 2.17% at NT$2,255; MediaTek plunged NT$320 or 7.15% to NT$4,155; Delta Electronics plummeted NT$215 or 8.90% to NT$2,200; and Hon Hai fell NT$14.5 or 5.23% to NT$263. (Editor: Pan Yi-Ching) 1150610