Shares fall sharply on virus fears

NERVOUS MARKET: With the infection sources still unknown for three COVID-19 cases that had departed Taiwan, investors have become uneasy, an analyst said

Taiei Times
Date: Aug 04, 2020
By: Staff writer, with CNA

Local shares yesterday came under heavy downward pressure, falling more than 1 percent as renewed fears over a possible increase in domestic COVID-19 infections hit market sentiment after the nation last week reported a case related to a Belgian national.

Selling focused on the bellwether electronics sector, led by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which pushed down the broader market as investors ignored gains posted by tech heavyweights on the US market at the end of last week, dealers said.

The TAIEX closed down 151.77 points, or 1.2 percent, at 12,513.03, on turnover of NT$231.43 billion (US$7.84 billion). Foreign institutional investors sold a net NT$30.4 billion worth of shares on the main board, Taiwan Stock Exchange data showed.

On Saturday, the Central Epidemic Command Center (CECC) reported seven new COVID-19 infections, including one Belgian engineer who might have been infected in Taiwan, although the CECC has not yet confirmed it as a domestic case.    [FULL  STORY]

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