FX.co ★ TAIEX Ends at Over 6-Month Low, Posts 4th Weekly Loss

The TAIEX, Taiwan’s benchmark stock index, tumbled 1,873 points, or 4.5%, to 39,702 on Friday, its lowest close since April 30. The decline tracked an overnight selloff on Wall Street, driven by a sharp drop in AI-related stocks amid concerns over the potential implications of the Democrats’ sweeping victory on Tuesday. Almost all subsectors finished in negative territory, led by electronic technology and producer manufacturing. The broader market extended its losing streak to a seventh consecutive session. TSMC — the world’s largest contract chipmaker and accounting for more than 40% of the market’s total capitalization — sank 4.7%. Other major technology names also retreated, including MediaTek (-2.0%), Hon Hai Precision (-4.5%), and Delta Electronics (-6.6%). Sentiment was further dampened by rising oil prices, which intensified worries about inflation and additional interest rate hikes amid renewed risks of a US–Iran conflict. For the week, the index slumped 12.2%, its fourth consecutive weekly loss amid a broad-based tech selloff.