Taiwan Stocks Close Down 1,568 Points, Hold Above Monthly Line; 3rd Biggest Drop Ever

(Central News Agency, Taipei, June 8) Following a sharp decline in US stocks, Taiwan's stock market suffered a Black Monday. The market plunged 2,694 points in early trading, setting a new record for the largest intraday point drop. Losses in heavyweight and tech stocks narrowed during the session, and the market managed to hold above the monthly moving average of 43,116 points. The TAIEX closed at 43,502.78 points, down 1,568.16 points, marking the third-largest closing point drop in Taiwan's stock market history. Looking at heavyweight stocks, TSMC fell NT$70 to close at NT$2,295, a decline of 2.96%, barely holding above its monthly moving average of NT$2,293. Hon Hai Precision and MediaTek both fell over 5%. Panel makers Innolux and AUO hit their daily price limits, closing at NT$48.35 and NT$24.40, respectively. (Editor: Chang Liang-chih) 1150608