Taiex falls 1.0% to 44,325 as TSMC and technology stocks extend losses

Taiwan’s Taiex fell 479 points, or 1.0%, to 44,325 in morning trading, extending the previous session’s decline and reaching its lowest level since Aug. 7. Electronic technology and technology services each dropped 1.1% as investors followed overnight weakness in U.S. technology shares. TSMC fell 1.4% after declining 1.5% in the previous session, while MediaTek, Delta Electronics and Hon Hai Precision Industry also weakened. Nanya Technology plunged 5.1%. The market was also cautious ahead of U.S. PCE price data, which could influence expectations for the Federal Reserve’s upcoming monetary-policy decision, and speeches by FOMC officials at the Jackson Hole Symposium. The latest decline followed a previous session in which the Taiex closed at 44,762.32, down 461.97 points, or 1.02%, after breaking below 45,000. That session also featured heavy selling in petrochemical stocks, while UMC and Lite-On Technology rose to their daily limit-up prices and King Slide narrowed its gap with Aspeed Technology.

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Taiex falls 1.0% to 44,325 as TSMC and technology stocks extend losses - CoinPost Terminal