TAIEX hits 42-month low to close at 8,681.34 pointsBy Kao Shih-ching / Staff reporterThe TAIEX yesterday retreated 5.83 percent to close at 8,681.34 points, the lowest in 42 months, as foreign and domestic institutional investors continue a sell-off amid the escalating worldwide spread of COVID-19, analysts said. A woman stands in front of a board showing stock prices in Taipei yesterday. Photo: Liao Chen-huei, Taipei Times“The deterioration in the local equity market could be attributed to sell-offs by foreign and domestic institutional investors. Institutional investors would prefer to decrease their holdings of risky assets, as they predict their value to decline amid volatile trading,” Tsai said. Foreign institution investors yesterday sold a net NT$21.22 billion (US$695.6 million) of local shares, slightly down from the average of NT$28 billion they sold over the previous three days.
Source: Taipei Times March 19, 2020 15:56 UTC