TAIEX takes 3rd-largest hit on record
CRASH DIVE:
Tech stocks across Asia are taking it in the teeth among war-induced uncertainties, worries about a bubble and more, as the TAIEX plunged precipitously The TAIEX suffered its third-largest point decline on record yesterday as investors continued a global retreat from tech shares amid concerns over the artificial intelligence (AI) boom, plunging 2,030.83 points, or 4.65 percent, to close at 41,603.36.
The loss was exacerbated by a sharp selloff in global semiconductor stocks that triggered broad-based risk aversion across Asian markets, CTBC Securities Investment Service Co (中國信託證券投顧) said.
The decline was driven mainly by market positioning rather than a deterioration in corporate fundamentals, CTBC said, citing the unwinding of leveraged trades and automated trading.
