Market sell-off over Ukraine crisis

08 March, 2022

Courtesy of ICRT


Overseas institutional investors sold off their stock holdings on Taiwan's main exchange on Monday, as the situation in Ukraine and soaring international crude oil prices sent markets around Asia tumbling.


In Taiwan, the benchmark Taiex fell 557.83 points, or 3.15%, to 17,178.69 on Monday, its lowest close since ending at 17,078.86 on 4 November 2021, on turnover of NT$456.78 billion, the highest in seven months.


Markets were rattled by international crude prices hitting a 14-year high at close to US$140 per barrel because of American and European plans to ban imports of Russian oil.


There are worries that oil prices might spin out of control and push up costs, accelerating inflation.


Taiwan stock exchange data shows foreign institutional investors accounted for 56.1% of total turnover Monday, for the second highest net sell in history.

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