By: Frances Huang
Taipei, March 25 (CNA) Shares in Taiwan took a beating Monday to close below the 10,500-point mark as market sentiment was hit by heavy losses on U.S. markets amid rising worries about the global economy, dealers said.
Selling focused on the bellwether electronics sector as investors locked in recent gains by seizing on the downturn suffered by U.S. tech stocks, while the financial sector also faced a steep decline, which pushed down the broader market, the dealers said.
The weighted index on the Taiwan Stock Exchange (TWSE) or Taiex, ended down 159.59 points, or 1.50 percent, at 10,479.48, after moving between 10,485.79 and 10,535.12, on turnover of NT$107.71 billion (US$3.49 billion).
The market opened down 0.98 percent as investors were motivated by a plunge on the U.S. markets, where the Dow Jones Industrial Average closed down about 460 points, or 1.77 percent, and the tech-heavy Nasdaq index ended down 2.50 percent, as concerns over the global economy ran deeper, the dealers said. [FULL STORY]