Big Unwinding of Leveraged Bets Pummels Taiwan Stock Market
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Taiwan stocks continued their heavy selloff on Wednesday, as concerns over US tariffs and unwinding of leveraged bets weighed on the market.
The benchmark Taiex plunged 5.8%, notching the biggest drop among Asian peers as it hit a 15-month low. The decline came even after the Taiwanese government authorized its National Financial Stabilization Fund late Tuesday to step in to buoy the market amid investors’ worries over tariffs imposed by US President Donald Trump. The index has shed 18% this week and is now the world’s worst-performing major equity gauge this year.