Taiwan Stocks Fall 1,613 Points in Seventh-Largest Point Drop

Taiwan’s benchmark stock index fell 3.59% Tuesday, ending at 43,307.54 after a 1,612.60-point decline, the market’s seventh-largest point drop on record, while MediaTek shares lost 7.43%.

The index opened at 44,481.59, reached an intraday high of 44,614.64 and fell to 43,191.58 before closing below 44,000. Trading value was about NT$990.5 billion, compared with roughly NT$799.7 billion in the previous session.

MediaTek closed at NT$3,675. The broad decline included 1,000 listed stocks that fell, 58 that rose and 33 that ended at the daily limit down.

Foreign and mainland investors recorded net sales of NT$107.307 billion, the largest amount among the three major institutional-investor categories. Investment trusts bought NT$19.905 billion. Across the three categories, net selling totaled NT$146.457 billion.

The Philadelphia Semiconductor Index had fallen 7.20% on Oct. 30 and 3.37% on Nov. 2, ahead of Taiwan’s Tuesday session.