The TAIEX, Taiwan’s benchmark stock index, fell 292 points, or 0.7%, to close at 44,920 on Monday, extending losses for a third straight session and tracking a decline on Wall Street on Friday due to a sell-off in major technology stocks. The broader index touched its lowest level since August 24, mainly weighed down by declines in electronic technology and financials. The latest data from China also pressured sentiment, as the government survey showed that factory activity in the mainland unexpectedly contracted in October, while the private survey revealed that manufacturing growth eased slightly. Electronic technology stocks shed 0.8%, with TSMC, the world’s largest contract chipmaker and accounting for more than 40% of the market’s total value, falling 1.7%. Meanwhile, United Microelectronics dropped 1.4%, and Asia Vital Components fell 1.1%. However, easing oil prices capped the losses as inflation concerns moderated.

The TAIEX, Taiwan’s benchmark stock index, shed 221 points, or 0.5%, to 44,991 in Monday morning trade, extending losses from the previous two sessions and tracking a fall on Wall Street on Friday due to a selloff in major technology stocks. The broader index touched its lowest level since August 24, mainly weighed down by declines in electronic technology and financials. The latest data from China also pressured sentiment, as the government survey showed that factory activity in the mainland unexpectedly contracted in October, while the private survey revealed that manufacturing growth eased slightly. Electronic technology stocks dropped 1.2%, with TSMC, the world’s largest contract chipmaker, which accounts for more than 40% of the market’s total value, falling 1.7%. Meanwhile, Delta Electronics fell 1.9%, Nanya Technology shed 1.3%, and United Microelectronics dropped 2.2%. However, easing oil prices capped the losses as inflation concerns moderated.

The TAIEX, Taiwan’s benchmark stock index, slumped 1,157 points, or 2.5%, to close at 45,212 on Friday, extending losses from the previous session and tracking a sharp fall in US stock futures amid disappointing earnings from major technology companies. The broader index touched its lowest level since August 24, mainly weighed down by declines in electronic technology, technology services, producer manufacturing, and process industries. Electronic technology plunged 3.0%, with TSMC, the world’s largest contract chipmaker, which accounts for more than 40% of the market’s total value, falling 2.0%. Meanwhile, MediaTek, Delta Electronics, and Hon Hai Precision slumped 4.2%, 9.8%, and 3.0%, respectively. Technology services also fell sharply by 2.8%, mainly weighed down by a 5.6% plunge in Wiwynn Corporation. For the week, the index fell 1.8%, while plunging 4.7% for the month after rising in the previous month, amid a sell-off in technology stocks.