Taiex Tumbles over 500 Points on Oct. 11|台股大跌660點 創史上單日最大跌點

The U.S. stock market suffered the steepest drop in eight months on Oct. 10. Following the similar sharp fall, the Taiwan Stock Exchange plunged 500 points to below 10,000 points as soon as it opened on the morning of Oct. 11. All eight core industry indexes also fell, especially the electronics falling to a “disaster level” with close at 9806.11, falling 660.72 points or 6.31 percent which is the biggest one-day drop in the history.


Distressed traders watch the flashing numbers on the screen. After the Dow plunged over 800 points on the 10th, the Taiex's weighted index fell 194 points on the morning of the 11th. The Taiex lost over 5 percent and tumbled over 500 points to below the 10,000-point threshold and to a 17-month low.

I really don't want to the National Stabilization Fund to get involved. It always acts so hastily. Retail investors aren't here just feeling their way around in the dark. When the (index) comes up, the same thing will still happen.

All eight industry indexes fell, with the electronics industry suffering the most. Electronics, cables, opto-electronics, and oil and gas shares all fell over 7 percent.

Overall, pressure to sell is still very strong. Foreign investors should be dumping shares today.

Investor confidence was already low as the Taiex had fallen on four straight days last week by close to 500 points. The market rebounded a little on the 8th and 9th, and was closed on the 10th for National Day. Unfortunately, it was affected by the U.S. market when it reopened on the 11th. During the National Stabilization Fund's regular quarterly meeting on the 11th, the committee discussed the stock market, capital, foreign investment, the global market and economy, and foreign exchange market. Many wanted to know if the fund will be activated following the Taiex's tumble.