Taiwan Stocks Set Intraday Point-Loss Record as Index Falls 8.99%

Taiwan’s benchmark stock index fell 3,737.67 points, or 8.99%, to 37,837.05 at 8:04 p.m. ET Thursday (01:04 UTC Friday), as heavy selling swept the island’s technology shares.

The index opened at 38,915.76, down 2,658.96 points, or 6.4%. Its intraday decline exceeded the previous record point loss of 2,953.71 points, set July 17. A closing record could not yet be assessed.

TSMC fell 9.82% to NT$2,020, near the exchange’s daily limit. MediaTek traded at NT$3,115, while Delta Electronics was at NT$1,020; both were among several heavyweight shares nearing their daily floors. Foxconn lost 9.36%, Quanta fell 8.5% and Cathay Financial declined 9.38%.

In the prior U.S. session, the Nasdaq Composite fell 5.52%, while the Philadelphia Semiconductor Index dropped 12.25%, with all 30 of its components lower. The declines put pressure on technology stocks across Asia and the United States.