TAIPEI (Taiwan News) — After losing 288 points the previous day, Taiwan’s stock market index, the Taiex, dipped another 90.34 points to close at 16,843.44 points Wednesday (May 5).
During trading, the index recovered and rose back above the 17,000-point mark, where it had dropped off on Tuesday. However, the resurgence was only short-lived, forcing the Taiex to close at its lowest point of the day, CNA reported.
While stocks in the electronics sector lost 1.6 percent overall, the banking sector still gained 1.25 percent and the iron and steel sector even surged by 6.58 percent.
Analysts said concerns about inflation and the intensity of investment spending by the semiconductor sector will still play a role in stock market fluctuations for the near future.