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Taiwan Weighted Index Plunges 3.76% to One-Month Low
Taiwan's stock market experienced a sharp sell-off on Thursday, with the benchmark Taiwan Weighted index plunging 3.76% to close at a new one-month low. The decline was broad-based, with significant losses seen across multiple industrial sectors, according to data reported by Investing.com.
Broad-Based Sell-Off Hits Taipei
The significant drop in the Taiwan Weighted index reflected widespread investor pessimism during the session. The decline was reportedly led by poor performance in the Glass and Plastic sectors, among others, pushing the main bourse to its lowest closing level in a month.
Individual Equities See Major Swings
Several companies saw their shares hit the 10% daily down-limit. The session's worst performers included:
- Elite Advanced Laser Corp (TW:3450), which fell 10.00%.
- ChipMOS Technologies (TW:8150), also declining by 10.00%.
- Microtek International Inc (TW:2305), which dropped 10.00%.
AdDespite the market-wide downturn, a few stocks bucked the trend. Top gainers included Para Light Electronics Co Ltd (TW:6226), which rose 10.00%, and Young Optics Inc (TW:3504), which added 9.94%.
Currency and Commodity Markets
In foreign exchange markets, the New Taiwan dollar weakened against its U.S. counterpart. The USD/TWD pair rose by 0.31% to 32.46, in line with a modest strengthening of the U.S. Dollar Index Futures.
Elsewhere in global markets, commodity prices were mixed during the trading day. Crude oil futures saw modest gains, with both WTI and Brent contracts trading higher, while gold futures were nearly flat.
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