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Taiwan shares drop below 8,300 points on economic concerns

Taiwan shares drop below 8,300 points on economic concerns

Taipei, Aug. 17 (CNA) Shares in Taiwan closed below the 8,300 point-mark Monday, hitting a new low in 21 months, after the government lowered its forecast for Taiwan's 2015 economic growth to just 1.56 percent, dealers said.
The weighted index on the Taiwan Stock Exchange closed down 92.22 points, or 1.11 percent, at the day's low of 8,213.42, off a high of 8,308.42, on turnover of NT$68.68 billion (US$2.13 billion).
The turnover volume was the second lowest level recorded so far this year.
Electronics stocks fell 1.1 percent, while financial shares lost 1 percent.
Largan Precision Co., the most expensive stock in the domestic stock market, rose 2.06 percent at NT$2,970.
Hermes Microvision Inc. dropped 7.1 percent to end at NT$1,240.
Among other major electronics stocks, Taiwan Semiconductor Manufacturing Co. was down 1.5 percent to finish at NT$124; MediaTek Inc. closed 1.8 percent lower at NT$265; Advanced Semiconductor Engineering Inc. ended 4.1 percent lower at NT$32.2; Inotera Memories, Inc. finished 5.7 percent lower at NT$18.7; Nanya Technology Corp. was down 8.7 percent at NT$37.65; and Hon Hai Precision Industry Co. was down 0.5 percent at NT$88.2. Among financial stocks, Cathay Financial Holding Co. fell 0.8 percent to close at NT$46.6; Fubon Financial Holding Co. dropped 0.5 percent to end at NT$53.2; CTBC Financial Holding Co. lost 1.7 percent to finish at NT$19.5; Mega Financial Holding Co. closed 0.2 percent lower at NT$24; and Yuanta Financial Holdings was down 3.8 percent at NT$13.8. (By Chung Jung-feng and Y.F. Low)


Updated : 2021-09-18 04:39 GMT+08:00