Taiwan Stock Market Falls Over 3% Amid COVID-19 Spread

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Cho Hyun-ui] The Taiwan stock market has been on a downward trend due to the spread of COVID-19 and other factors.

The Taiwan Capitalization Weighted Stock Index stood at 15,353.04 as of 2:47 PM on the 17th, down 3.0% compared to the previous day. As COVID-19 cases continued to emerge, the index plunged as much as 4.22% during intraday trading.

In response to the spread of local infections, Taiwan has raised the epidemic prevention alert level to Level 3 in northern Taipei City and New Taipei City until the 28th.

The Taiwan Capitalization Weighted Stock Index fell for four consecutive trading days from the 10th to the 13th. In particular, on the 12th, concerns that a shutdown of TSMC, the largest company by market capitalization, would worsen the semiconductor chip shortage caused the index to plummet more than 4% in a single day. However, influenced by bargain buying on the 14th, the index rose 1% after five trading days.

This content was produced with the assistance of AI translation services.