Taiwan stocks plunge 3.59% as US tech sell-off and AI spending fears hit Asia
Briefing by News4U · First published
Focus Taiwan reported that on Tuesday the Taiex closed down 1,612.60 points, or 3.59 percent, at 43,307.54 after the Nasdaq fell 1.07 percent and the Philadelphia Semiconductor Index dropped 3.37 percent overnight amid concerns over massive AI spending. TSMC dropped 1.50 percent to NT$2,295.00, MediaTek shed 7.43 percent to NT$3,675.00 and ASE Technology slid 8.61 percent to NT$816.00, while foreign institutional investors sold a net NT$107.31 billion, Focus Taiwan said. Separately, Cointelegraph said bitcoin traded around $76,500, below the $77,700 cost basis of recent buyers that analysts warn could turn into resistance. [1] [2]
Sources
- Taiex suffers 7th steepest single-day point decline on tech sell-off - Focus Taiwan
Focus Taiwan · · Full text
- Bitcoin price threatens $77.7K support loss with recent buyers underwater
Cointelegraph · · Full text