Taiwan Stocks Plunge, Brokerage Systems Overwhelmed; FSC Reports 5 Firms Have Recovered

(CNA, Reporter Lu Yen-tzu, Taipei, 8th) Following a sharp decline in U.S. stocks last Friday, the Taiwanese stock market experienced a substantial increase in trading volume immediately after opening today, leading to several brokerage firms' order systems or apps experiencing login difficulties, system congestion, and quote delays. The Financial Supervisory Commission (FSC) stated that a total of 5 securities firms filed cybersecurity reports today and have already taken immediate traffic diversification measures and restored normal operations.

The Taiwan stock index (Taiex) plummeted by 2,694 points in early trading today, setting a new record for the largest intraday point drop. It ultimately closed at 43,502.78 points, down 1,568.16 points, marking the third-largest closing point drop.

The FSC's Securities and Futures Bureau explained that a total of 5 securities firms filed cybersecurity reports today. After the Taiwan Stock Exchange contacted the firms to understand the situation, it was determined that a massive number of investors logging in within a short period caused a heavy load on some securities firms' or IT vendors' systems. This affected some customers, causing slow logins to order systems or an inability to use related functions. The IT vendors and concerned securities firms took immediate traffic diversification measures, and all have returned to normal.

The Securities and Futures Bureau pointed out that the securities firms all stated they will continue to strengthen traffic monitoring mechanisms and dynamically adjust resources to enhance system stability. The Bureau and the Taiwan Stock Exchange will continue to supervise securities firms in implementing information and communication security measures to maintain uninterrupted operations and ensure investor rights. (Editor: Yang Lan-hsuan) 1150608