Taiwan Stock Market Experiences Historic Plunge Amid U.S. Tariff Concerns
TAIEX index suffers unprecedented drop as panic selling affects key sectors.
Taipei, April 7 — Taiwan's stock market faced an unprecedented decline on Monday, registering the largest single-day drop in its history.
The TAIEX, the main index of the Taiwan Stock Exchange, closed at 19,232.35 points, marking a decrease of 2,065.87 points, equivalent to a 9.7 percent loss, establishing records for both daily point and percentage declines.
The downturn was spurred by panic selling triggered by the United States' implementation of reciprocal tariffs, prompting widespread fear among investors.
A total of 1,702 stocks, including those listed on the main board and over-the-counter (OTC) markets, hit the daily limit-down threshold.
This included 936 stocks on the main board and 766 on the OTC market.
Key sectors were significantly affected by the sell-off, with electronics, semiconductors, automobiles, shipping, textiles, and finance all experiencing notable declines.
Among the hardest hit was the semiconductor giant TSMC, which opened at a limit-down gap and remained locked at that level throughout the trading session.
TSMC closed at 848 New Taiwan dollars (approximately 25.67 U.S. dollars), marking its first limit-down drop since December 2008.
The trading volume on the Taiwan stock market plummeted to 147.3 billion New Taiwan dollars, the lowest level since December 30, 2022. The market reopened after a four-day closure for the Tomb-Sweeping Day holiday and was immediately met with compounded pressure from two consecutive days of declines in global stock markets.
The TAIEX index opened sharply lower at 20,153.57 points and continued its downward trajectory as the session progressed.
Analysts have cautioned that the market has not yet reached its lowest point, with potential for further forced selling to occur in the upcoming trading sessions.
Observers note that ongoing tariff tensions could impose lasting adverse effects on Taiwan's economy and financial markets.
Taiwan’s previous record for the largest single-day market drop was registered on August 5, 2024.
The TAIEX, the main index of the Taiwan Stock Exchange, closed at 19,232.35 points, marking a decrease of 2,065.87 points, equivalent to a 9.7 percent loss, establishing records for both daily point and percentage declines.
The downturn was spurred by panic selling triggered by the United States' implementation of reciprocal tariffs, prompting widespread fear among investors.
A total of 1,702 stocks, including those listed on the main board and over-the-counter (OTC) markets, hit the daily limit-down threshold.
This included 936 stocks on the main board and 766 on the OTC market.
Key sectors were significantly affected by the sell-off, with electronics, semiconductors, automobiles, shipping, textiles, and finance all experiencing notable declines.
Among the hardest hit was the semiconductor giant TSMC, which opened at a limit-down gap and remained locked at that level throughout the trading session.
TSMC closed at 848 New Taiwan dollars (approximately 25.67 U.S. dollars), marking its first limit-down drop since December 2008.
The trading volume on the Taiwan stock market plummeted to 147.3 billion New Taiwan dollars, the lowest level since December 30, 2022. The market reopened after a four-day closure for the Tomb-Sweeping Day holiday and was immediately met with compounded pressure from two consecutive days of declines in global stock markets.
The TAIEX index opened sharply lower at 20,153.57 points and continued its downward trajectory as the session progressed.
Analysts have cautioned that the market has not yet reached its lowest point, with potential for further forced selling to occur in the upcoming trading sessions.
Observers note that ongoing tariff tensions could impose lasting adverse effects on Taiwan's economy and financial markets.
Taiwan’s previous record for the largest single-day market drop was registered on August 5, 2024.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
