TAIPEI: Shares in Taiwan took a beating Thursday as the financial sector came under heavy selling, in particular in the late trading session, to push down the weighted index by more than 100 points at the close, dealers said.
Investors cut their holdings in the financial sector, which had made a strong showing in recent sessions, after taking into account a warning by U.S. Federal Reserve Chair Janet Yellen about potential high risks on Wall Street, they said.
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Selling was seen across the board, except for some select individual stocks, such as flat panel makers, which appeared resilient against the plunge on the broader market due to optimism toward shipment growth for this year, they added.
The weighted index on the Taiwan Stock Exchange closed down 114.09 points, or 1.16 percent, at the day’s low of 9,704.11, on turnover of NT$94.35 billion (US$3.07 billion).
