The TAIEX index suffered a sharp decline of 3.59% on November 4, marking its seventh-largest single-day point loss. The benchmark index dropped 1,612.6 points to close at 43,307.54, with over 1,000 listed stocks declining. Trading volume reached NT$928.058 billion (US$28.33 billion), reflecting heightened market activity amid the sell-off.
The New Taiwan dollar also weakened, hitting an 18-month low against the US dollar after falling NT$0.168. Analysts attributed the depreciation pressure to ongoing foreign capital outflows. Traders expect further declines as investor sentiment remains fragile.
The downturn was driven by a global technology sell-off, particularly in US chipmakers, as concerns over returns on artificial intelligence (AI) investments grew. Uncertainty surrounding US midterm elections further dampened investor confidence, contributing to the market's volatility.