Taiwan dollar falls to 8-year low, stocks tumble

Quick Summary:

Taiwanese shares marked their heaviest weekly drop in three months, while its currency slumped to an eight-year low as investors sold technology stocks amid worries about trade tensions between U.S.and China.

Washington is considering tougher curbs for exports of advanced semiconductor technology to China, according to a report this week.

MSCI's broadest index of Asia-Pacific shares outside Japan, in which TSMC has an 11% weightage, was down 1.7% to its lowest level since early July.

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Category: EconomyBusiness

Markets: MalaysiaChinaIndonesiaJapanSouth KoreaSingaporeTaiwan

Topics: Forex Currency Taiwanese dollar /Business/Business News Semiconductor Technology

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-19 @ 16:19:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 453 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © The Star

News ID: 21682793

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