Taiwan Stocks Hit Over 2

Taiwan Stocks Hit Over 2-Month Low on Tech Selloff

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%.

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