Focus Taiwan
Date: 03/09/2020
By: Frances Huang

Taipei, March 9 (CNA) Shares in Taiwan took a beating Monday, shedding more than 300 points, as investors were shocked by global volatility at a time of an escalating spread of COVID-19 coronavirus worldwide and a plunge in international crude oil prices, dealers said.

The bellwether electronics sector led the downturn throughout the trading session amid worries over global demand, while selling in petrochemical stocks caused by a weakening energy market added downward pressure to drag down the main board to the lowest level at the close, the dealers said.

The weighted index on the Taiwan Stock Exchange (TWSE), or Taiex, closed down 344.17 points, or 3.04 percent, at the day's low of 10,977.64, coming off a high of 11,221.76, on turnover of NT$230.97 billion (US$7.70 billion).

The market opened down 0.89 percent in the wake of a plunge of almost 1,200 points in the Dow Jones Industrial Average futures, which pointed to a sharp fall on the spot market later in the day, and a more-than 20 percent tumble in international crude oil prices in the Asian markets Monday, the dealers said.    [FULL  STORY]