Yageo Reports Massive Default Settlement of NT$38.8 Million

(CNA) - The Taiwan stock market has recently been experiencing high-level volatility. Today, the Taiwan Stock Exchange announced that seven brokerage firms, including Pocket, First Chungli, Beicheng, Cathay Securities Tuner, Cathay Securities Dunnan, CTBC Securities Gao, and Fubon Securities Nantun, reported a massive default settlement involving passive component leader Yageo, totaling NT$38.8 million.

According to the Taiwan stock market's "T+2" settlement system, the Taiwan Stock Exchange announced the default settlement today, which pertains to stock market transactions on Friday, June 26. Last week, the Taiwan stock market pulled back, with a sharp decline in the final trading hours on the 26th. The market closed down 1683.50 points, marking the third-largest single-day point drop in Taiwan stock market history.

Today's massive default settlement by Yageo is the sixth such incident for a listed company this year. Prior to this, Macronix, G-Star, Shin-Etsu Chemical, Unimicron, and Walsin Technology had also experienced massive default settlements. (Editor: Yang Kai-hsiang) 1150630

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