P.M. BRIEFING : Taiwan Stocks in 6.7% Plunge
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<i> From Times wire services</i>
TAIPEI, Taiwan — Taiwan stock investors had a crisis of confidence today and sent the main stock market index plunging 6.7% to its second biggest loss on record.
“Their confidence is shattered,” said Peter Lee of Foremost Investment Services. “It’s very possible that the index will drop below 5,800 now.”
The weighted index lost 473.38 points to close at 6,602.12. Declines led advances by 198 to 3 with 191 listings dropping their daily limit of 7%.
Turnover slowed to $2.7 billion from $4.6 billion Wednesday as buyers disappeared.
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