By: Pan Chih-yi, Tien Yu-pin and Evelyn Kao
Taipei, Oct. 11 (CNA) The Taiwan stock market tumbled 660.72 points Thursday, recording its steepest one-day point drop in history, to close below the 10,000-point mark in the wake of Wall Street’s worst losses in eight months.
The benchmark weighted index on the Taiwan Stock Exchange (Taiex) closed down 660.72 points, or 6.31 percent, at 9,806.11 after moving between 9,797.93 and 10,272.04. Turnover totaled NT$205.33 billion (US$6.59 billion) during the session.
In the wake of the Dow Jones Industrial Average’s plunge of 831 points in the U.S. Wednesday, the local market opened down 194.79 points at 10,272.04 and dropped below 10,000 points in 90 seconds.
Amid lingering fears over further fund outflows, the Taiex continued to fall, taking by 668 points at one point, and by the close had lost 660.72 points, its biggest single-day drop in history. [FULL STORY]