Global stock markets and oil prices also hit the skids yesterday as worries about rising interest rates and recessions persisted. In Taipei yesterday, the TAIEX closed down 380.89 points, or 2.42 percent, at 15,347.75. Turnover totaled NT$278.532 billion (US$9.35 billion), with foreign institutional investors selling a net NT$22.44 billion of shares on the main board, Taiwan Stock Exchange data showed. Investors would be looking for further clues about whether another 75 basis-point rate hike is on the cards for next month. Economists polled by Reuters expect the Fed to deliver a 75-basis-point interest rate hike next month, followed by a 0.5 percentage-point rise in September.
