TAIPEI (TVBS News) — The Taiwan Stock Exchange's main index plunged on Monday (Aug. 5), opening at 20,982.92 points and dropping over 600 points. As poor U.S. employment data stoked fears of an economic recession, the morning low hit 20,154.63 points, down more than 1,400 points.
Taiwan Semiconductor Manufacturing Company (TSMC, 台積電) saw its stock dive 6%, crashing below the NT$900 mark to a low of NT$835. Foxconn (鴻海), MediaTek (聯發科), and ASE Technology Holding (日月光投控) each plummeted more than 9%.
Market analysts attribute the sharp decline to international market fluctuations and shifting financial conditions. They advise that, while the market will eventually return to fundamentals, investors might consider shifting to more resilient financial stocks in the short term.
Meanwhile, Japan and South Korea's stock markets also experienced significant losses today. Japan's Nikkei opened with a drop of over 2,000 points, triggering a circuit breaker on the Tokyo Stock Exchange. The South Korean stock market fell more than 4%.
