Taiwan shares plunge on U.K. vote to leave EU

Taiwan News
Date: 2016-06-24
By: By Frances Huang, Central News Agency

Shares in Taiwan took a beating Friday as investors scrambled to dump their holdings in the wake of the results of a referendum held by the United Kingdom a day earlier which pointed to a departure of the country from the European Union, dealers said.

Selling on the local main board was seen across the board with large cap stocks, such as contract chip maker Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電), and integrated circuit designer MediaTek Inc. (聯發科), under heavy downward pressure to push the index below 8,500 points at the close, they said.

The weighted index on the Taiwan Stock Exchange (TWSE) closed down 199.69 points, or 2.30 percent, at 8,476.99, after moving between 8,374.26 and 8,691.30, on turnover of NT$121.65 billion (US$3.75 billion).     [FULL  STORY]

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