Taiwan Stock Market Plunges 716 Points, Breaches Monthly Line as Bellwether and Memory Stocks Suffer

Taipei, May 19 (CNA) The Taiwan stock market opened lower and fluctuated today, ultimately closing down 716.26 points at 40175.56, breaching the 40235-point monthly moving average. This significant drop was largely driven by the weak performance of bellwether stocks and the memory chip sector. TSMC closed down NT$35 at NT$2205, MediaTek fell over 7%, and memory chip stocks experienced sharp declines.

The Taiex weighted index closed at 40175.56 points, a decrease of 716.26 points, or 1.75%. The total transaction value reached NT$1.088073 trillion. The electronic stock index fell by 2.2%, while the financial stock index rose by 1.24%. The OTC index also saw a 2.8% decline, closing below its 401.53-point monthly moving average.

Among the bellwether stocks, TSMC closed down NT$35, settling at NT$2205, a 1.56% decrease. Yageo and Hon Hai (Foxconn) fell by 0.8% and 1.41% respectively, while MediaTek plunged 7.21%. Memory chip manufacturers Nanya Technology, Winbond, Macronix, and Etron all hit their daily trading limits. (Edited by Chang Liang-chih) 1150519