TAIEX Extends Slide, Stays at Over 2-Month Low

The TAIEX, Taiwan's benchmark stock index, slumped 1,397 points, or 3.74%, to 40,206 in Wednesday morning deals, down for the fourth consecutive session and marking its lowest level since May 20, as a global selloff in chipmakers continued to weigh on technology heavyweights. Electronic technology stocks plunged 4.2%, after slumping 5.3% in the previous session, with TSMC, the world's largest contract chipmaker, accounting for more than 40% of the market's total value, falling 2.4% following a 3.0% drop a day earlier. Meanwhile, Delta Electronics and MediaTek plunged 7.6% and 7.5%, respectively. Among the major memory chip suppliers, Nanya Technology Corp. and Winbond Electronics Corp. plunged 9.9% and 9.7%, respectively. However, traders awaited the Fed's interest rate decision later today amid rising oil prices due to the escalating conflict in the Middle East.

The TAIEX, Taiwan’s benchmark stock index, plunged 2,031 points, or 4.7%, to 41,603 on Tuesday, retreating for the third consecutive session and marking its lowest level since May 21, as a global selloff in chipmakers weighed on technology heavyweights. Reports that a Chinese state-backed firm began producing immersion DUV lithography equipment and the debut of ChangXin Memory Technologies (CXMT) further pressured sentiment. Electronic technology slumped 5.3%, with TSMC, the world's largest contract chipmaker, accounting for more than 40% of the market's total value, falling 3.0% after being flat in the previous session. Meanwhile, Delta Electronics and MediaTek plunged 10.0% and 9.9%, respectively. Among the major memory chip suppliers, Nanya Technology Corp. and Winbond Electronics Corp. each plunged 10.0%. On the data front, Taiwan's consumer confidence weakened in July from June's four-month high.

The TAIEX, Taiwan’s benchmark stock index, slumped 1,512 points, or 3.5%, to 42,123 in Tuesday morning trade, down for the third consecutive session and marking its lowest level since May 21, as a global selloff in chipmakers weighed on technology heavyweights. Almost all sectors traded in the red, led by process industries, followed by electronic technology, technology services, and industrial services. Reports that a Chinese state-backed firm began producing immersion DUV lithography equipment and the debut of ChangXin Memory Technologies (CXMT) further pressured sentiment. Electronic technology plunged 3.9%, with TSMC, the world's largest contract chipmaker, accounting for more than 40% of the market's total value, falling 2.6% after being flat in the previous session. Meanwhile, MediaTek and Delta Electronics plunged 6.7% and 7.4%, respectively. Among the major memory chip suppliers, Nanya Technology Corp. slumped 9.8%, while Winbond Electronics Corp. plunged 10.0%.