INVESTOR PESSIMISM: With the US and China unlikely to reach a comprehensive solution before Friday, market sentiment is likely to remain turbulent, an analyst said
Taipei Times
Date: May 07, 2019
By: Kao Shih-ching / Staff reporter
The TAIEX yesterday tumbled 1.8 percent to 10,897.12 points, joining a sell-off across
Two people sit in front of an electronic screen at a brokerage in Taipei in an undated photograph.Photo: Fang Pin-chao, Taipei Times
regional stock markets after US President Donald Trump threatened to increase tariffs on US$200 billion of Chinese goods on Friday.
The weighted stock index ended 199.18 points lower, its largest one-day loss this year, on turnover of NT$137.863 billion (US$4.46 billion), Taiwan Stock Exchange (TWSE) data showed.
Foreign institutional investors sold a net NT$13.96 billion of local shares, and securities investment companies sold a net NT$559 million, TWSE data showed.
While the setback in Taipei was relatively smaller compared with other major markets in Asia, with Shanghai dropping 5.58 percent and Hong Kong falling 2.93 percent, volatility is expected to continue, analysts said. [FULL STORY]
