Taiwan shares end Wednesday’s session lower

(MENAFN) On Wednesday, the TAIEX, the benchmark index of the Taiwan Stock Exchange, experienced a dramatic decline, closing at 21,092.75 points. This drop of 999.46 points marks it as the third-largest single-day decrease in the index's history. The sharp fall underscores a period of significant volatility and turbulence in the Taiwanese stock market, reflecting broader economic uncertainties and investor concerns.

In addition to the index's steep decline, overseas institutional investors were notably active in selling off their holdings, resulting in a record-breaking net sale of 100.75 billion new Taiwan dollars, equivalent to approximately 3.13 billion U.S. dollars. This massive sell-off highlights a high level of withdrawal by international investors, further contributing to the market's instability.

Among the major stocks listed on the TAIEX, Taiwan Semiconductor Manufacturing Company (TSMC) faced a substantial drop, losing 51 dollars or 5.43 percent to close at 889 dollars. This decline brought the stock below the significant 900-dollar threshold. Similarly, Hon Hai Precision Industry Co. saw its shares decrease by 2.97 percent, closing at 179.5 dollars, while MediaTek Inc., a key player in smartphone integrated circuits, experienced a sharp decline of 6.97 percent, ending the day at 1,135 dollars.

Interestingly, all three of the largest single-day drops in TAIEX's history have occurred within the third quarter of this year. This pattern of severe market declines within a specific period indicates heightened volatility and possibly ongoing challenges affecting investor confidence and market stability during this timeframe.

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