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Taiwan’s Stocks Enter Bear Market Amid China Economic Concerns

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Taiwan’s stocks entered a bear market amid concern China’s economic slowdown and currency devaluation will curb demand for the island’s technology products.

The Taiex index fell 3 percent to 7,786.92 at the close, the lowest level since June 2013. The benchmark gauge has tumbled more than 20 percent from a 15-year high on April 27, the threshold for a bear market. Taiwan Semiconductor Manufacturing Co., the biggest stock in the Taiex, dropped 4 percent.