TAIEX tumbles on tech sell-off on forex concerns

Shares tumbled yesterday after investors sold off technology shares, and amid fears that a strong NT dollar may hurt exporters.

The TAIEX finished down 188.13 points, or 3.1 percent, at 5,838.42 in dealings valued at NT$68 billion (US$2.1 billion).

Decliners outnumbered the advancers 615 to 73, while 83 issues ended the trading day unchanged.

Investors took their cues from a technology-led sell-off on Wall Street.

On Friday the Dow Jones industrial average fell 1.1 percent and the NASDAQ Composite Index dropped 1.6 percent.