By: Frances Huang
Taipei, July 3 (CNA) Taiwan shares dropped sharply in Friday’s mid-morning session, led by large-cap stocks across the board amid lingering concerns over the debt problems in Greece, as that country prepares to hold a referendum on its creditors’ proposals, dealers said.
The current selling also reflected fears that the Shanghai stock exchange will continue to trend lower after a recent sell-off, which could create more volatility in the regional markets, including Taiwan, dealers said.
As of 10:50 a.m., the weighted index on the Taiwan Stock Exchange had lost 89.92 points or 0.96 percent, dropping to 9,289.93 points on turnover of NT$43.37 billion (US$1.40 billion). The local index fell more than 100 points before recovering to some extent, but still came under pressure. [FULL STORY]