Taiwan, South Korea Stocks Plunge Ahead of Key U.S. CPI Report
Photo: TokenPost
Asian stocks sold off sharply Monday as investors weighed a weekend missile attack near Riyadh, weaker semiconductor shares and the potential impact of Wednesday’s U.S. inflation report on Federal Reserve policy. Taiwan’s weighted index fell 1,024 points, or 2.08%, by 9:55 p.m. ET Sunday (1:55 UTC Monday). Taiwan Semiconductor Manufacturing Co. dropped as much as NT$45 to NT$2,495, while the over-the-counter index lost 4.04%. South Korea’s KOSPI fell as much as 6.2%, breaking below 6,000 points and triggering a temporary halt to program selling. Samsung Electronics and SK Hynix, two major memory-chip companies, also declined sharply.
Source: TokenPost
