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Taiwan shares down on Wall Street tumble, avian flu outbreak

Taiwan shares down on Wall Street tumble, avian flu outbreak

Taipei, Jan. 12 (CNA) Shares in Taiwan slid Monday following a 170-point drop in the Dow Jones Industrial Average on Friday and an outbreak of avian flu in southern Taiwan. The weighted index on the Taiwan stock Exchange closed down 37.28 point, or 0.40 percent, at the day's low of 9,178.30, off a high of 9,229.65, on turnover of NT$83.81 billion (US$2.63 billion). The bellwether electronics sector lost 0.50 percent on the day, dragged down by high-tech heavyweights.
Taiwan Semiconductor Manufacturing Co. (TSMC), the market's most heavily weighted stock, closed down 1.4 percent at NT$132 on news that it could lose orders for Apple's new A9 processor because the development of its 16 nanometer process has been lagging behind. Hon Hai Precision Industry Co., which makes iPhones and iPads for Apple, finished 0.9 percent lower at NT$85.7, and smartphone camera lens maker Largan Precision Co. ended 0.8 percent lower at NT$2,320. Some food suppliers took hits Monday after Taiwanese authorities confirmed over the weekend that chicken, goose and duck farms in southern Taiwan had been infected with various strains of avian flu.
Two major poultry suppliers -- Great Wall Enterprise Co. and Charoen Pokphand Enterprise (Taiwan) Co. -- both saw their shares plunge more than 3 percent before rebounding slightly ahead of the trading session's end. Great Wall finished down 2.3 percent at NT$26.70 while Charoen Pokphand closed down 2.2 percent at NT$24.50. The outbreak did benefit health care-related stocks, such as vaccine producer Adimmune Corp., which saw its shares surge by the maximum daily rise of 7 percent to close at NT$31.45. (By Jalen Chung and Lilian Wu)


Updated : 2021-09-26 08:19 GMT+08:00