Shares fall to 9,236.10 on Greek debt concerns
Shares in Taiwan took a nosedive Monday as the debt crisis in Greece dragged down the stock markets in Japan, South Korea and China, dealers said.
The Greek government has confirmed that banks will be closed all week, following a decision by the European Central Bank not to extend emergency funding.
The weighted index on the Taiwan Stock Exchange closed down 226.47 points, or 2.39 percent, at 9,236.10, after moving between 9,227.11 and 9,358.96. Turnover totaled NT$93.33 billion (US$3.01 billion) during the session.
Among some of the big losers, the electronics sector fell 2.94 per- cent, the semiconductor sector 4.14 percent, the optoelectronics sector 3.01 percent, the financial sector 2.11 percent, the glass sector 3.57 percent, and the electrical and machinery sector 2.57 percent.
Taiwan Semiconductor Manufacturing Co. ( ), the most heavily weighted stock on the local market, ended 2.12 percent lower at NT$138.5.
In the financial sector, Fubon Financial Holding Co. ( ) dropped 2.79 percent to close at NT$62.7, and Cathay Financial Holding Co. ( ) fell 3.1 percent to finish at NT$53.2.
Foreign institutional investors sold a net NT$7.11 billion worth of local shares Monday.
An investor stares at stock indices at the Taiwan Stock Exchange in Taipei, yesterday. The TAIEX plummeted 226.47 points yesterday in trading, or 2.4 percent of its value, following the announcement of capital control enforcement in Greece. Markets in Asia also closed down sharply.