Foreign investor sell-off in Taiwan stock market nears all-time ...

Taipei, March 7 (CNA) Foreign institutional investors sold off their stock holdings on Taiwan's main exchange at a nearly unprecedented rate ... BusinessForeigninvestorsell-offinTaiwanstockmarketnearsall-timehigh03/07/202208:32PMListenLinkWhatsappRedditLineEmailToactivatethetext-to-speechservice,pleasefirstagreetotheprivacypolicybelow. CNAMarch7,2022 Taipei,March7(CNA)ForeigninstitutionalinvestorssoldofftheirstockholdingsonTaiwan'smainexchangeatanearlyunprecedentedrateMonday,asthesituationinUkraineandsoaringinternationalcrudeoilpricessentmarketsaroundAsiatumbling.InTaiwan,thebenchmarkTaiexfell557.83points,or3.15percent,to17,178.69onMonday,itslowestclosesinceendingat17,078.86onNov.4,2021,onturnoverofNT$456.78billion,thehighestinsevenmonths.AlexHuang(黃國偉),ananalystwithMegaInternationalInvestmentServicesCorp.,saidmarketswererattledbyinternationalcrudepriceshittinga14-yearhighatclosetoUS$140perbarrelbecauseofAmericanandEuropeanplanstobanimportsofRussianoil."Marketswereworriedthatoilpricescouldspinoutofcontrolandpushupcostsdirectlyorindirectlyinseveralindustries,acceleratinginflation,"hesaid.Foreigninstitutionalinvestorsaccountedfor56.1percentoftotalturnoverMonday,buyingNT$86.94billioninsharesbutsellingNT$169.18billion,foranetsellofNT$82.24billion,thesecondhighestinhistory,accordingtoTaiwanStockExchange(TWSE)data.ThehighestcameonFeb.26,2021,atNT$94.41billion,afteryieldsonU.S.10-yearTreasurynotessoared,but,tellingly,threeofthetop10netsellsinthemarket'shistoryhavecomesinceRussiainvadedUkraineonFeb.24.IntheseventradingsessionsfromFeb.24toMonday,foreigninstitutionalinvestorshavesoldanetNT$250.14billion,duringwhichtimetheTaiexhasfallen4.9percent,TWSEdatashowed.OnMonday,ofthe10stockswiththebiggestnetsellsbyforeigninvestors,halfwereamongthe20stocksontheTaiexwiththehighestmarketcapitalization,includingTSMC,theworld'slargestcontractchipmaker,accordingtoTWSEdata.TSMCsawanetsellof59.33millionsharesMondayasitclosed3.15percentloweratNT$576.Otherbigsell-offtargetswereUnitedMicroelectronics,Largan,ChinaSteel,andHonHaiPrecisionIndustry.Thesell-offalsoaffectedtheforeignexchangemarketasforeigninstitutionalinvestorsturnedtheirTaiwandollarreceiptsintoU.S.dollars.TheU.S.dollarclosedatNT$28.25,afterclosingatNT$28.115onFriday,onadaywhenturnoveronTaiwan'sforeignmarkettotaledUS$2.53billion,thesecondhighestinhistory.Taiwan'scurrencyhaslost1.3percentsinceRussiainvadedUkraine. (ByJefferyWu,ChangChien-chung,SuSsu-yun,andLukeSabatier) Enditem >ChineseVersion RelatedNewsTaiwansharesplungeamidfearsoverenergysanctionsfacedbyRussiaTSMC'smarketcapdipsbelowNT$15trillioninmorningsession0:00/0:00LatestBusinessTaiwansharesendhigherasTSMCbouncesback05/20/202206:52PMSocietyMOEmonthlychild-rearingallowancetobeincreasedtoNT$5,00005/20/202206:30PMPoliticsMessagesfavorabletoTaiwanexpectedonBiden'sAsiatrip:observers05/20/202205:59PMSportsBadmintonaceTaiTzu-yingreachesThailandOpensemis05/20/202205:51PMCross-StraitLegislaturepassesbilloneconomicespionage05/20/202205:48PMMoreWevalueyourprivacy.FocusTaiwan(CNA)usestrackingtechnologiestoprovidebetterreadingexperiences,butitalsorespectsreaders'privacy.ClickheretofindoutmoreaboutFocusTaiwan'sprivacypolicy.Whenyouclosethiswindow,itmeansyouagreewiththispolicy.Gotit.Learnmore