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Shares plunge on Taipei bourse

Shares plunge on Taipei bourse

Taiwan's share prices plunged Monday, with the weighted index, the market's key barometer, falling 212.75 points, or 4.64 percent, to close at 4,366.8.
Finishing lower for the fourth consecutive day, the local bourse opened at 4,301.33 and fluctuated between 4,391.95 and 4,301.33 during trading Monday, on the first day that the limit for local share drop returned to the standard 7 percent.
A total of 2.18 billion shares changed hands on market turnover of NT$35.87 billion (US$1.07 billion).
All eight major stock categories lost ground, with construction issues falling the most at 6.6 percent. Foodstuff stocks dropped 6.5 percent, textile shares declined 6.1 percent, banking and financial shares as well as paper and pulp issues both lost 5.9 percent, machinery and electronics shares declined 5 percent, cement stocks dropped 3.4 percent, and plastics and chemicals shares were down 2.8 percent.
Losers outnumbered gainers 1,218 to 211, with 286 stocks remaining unchanged.
The Taiwan Stock Exchange normally allows shares to rise or fall by a maximum 7 percent in any one session, but the government on Oct.
13 temporarily set the maximum share price decline at 3.5 percent in an effort to limit the impact of global market volatility on local stocks.
Foreign investors were net sellers of shares worth NT$6.58 billion.


Updated : 2021-06-20 22:09 GMT+08:00