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(Photo = Yonhap news) |
[Alpha Biz= Reporter Paul Lee] Amid the largest earthquake in 25 years in Taiwan on the 3rd, the Korean stock market fell further than the Taiwanese stock market. Experts analyzed that soaring U.S. bond rates and Tesla's performance had a greater impact on the stock market than Taiwan's strong earthquake.
On this day, the Taiwan Independent Security Index fell 0.63% to close at 20,337.60. A 7.2-magnitude earthquake hit eastern Taiwan on the same day, causing a disturbance, with the operation of the TSMC plant suspended and employees evacuated. Taiwan's second-largest foundry company, UMC, also evacuated some of its production line employees and stopped working.
Despite the strong earthquake, the impact on the Taiwanese stock market was relatively minimal. TSMC, which is considered the leading stock in the Taiwanese stock market, fell 1.2% on the same day, while other market cap stocks such as Foxconn (-1.39%), Media Tech (-0.43%), and Delta Electronics (-1.78%) also fell around 1%.
On the other hand, the KOSPI index fell 1.68% and the KOSDAQ index fell 1.3%, which was a bigger drop than the Taiwanese stock market. Samsung Electronics fell 1.06% and SK Hynix fell 3.81%. Secondary stocks such as LG Energy Solution (-4.33%) and Samsung SDI (-5.52%) also fell sharply. Experts say that the U.S. stock market fell further than Taiwan the previous day due to a sharp drop in the U.S. stock market and Tesla's sluggish earnings.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
