Taipei - Taiwan stocks plunged 2.28 per cent despite Wall Street's overnight gains as investors took quick profits due to weak confidence, dealers said. The Weighted Price Index of the Taiwan Stock Exchange opened sharply higher, reflecting the overnight rally of the Wall Street, but quick profit-taking soon eroded early gains, dealers said.
The local index closed at 6,815.32 points, a drop of 159.19 points or 2.28 per cent over the previous day's trade, with turnover brisk at 118.93 billion Taiwan dollars (3.91 billion US dollars) amid volatile trade, dealers said.
All eight major sectors closed lower, with paper sub-index falling 5.7 per cent to become the day's biggest loser, followed by textiles' 4.6 per cent, petrochemicals' 4.3 per cent and cement's 4.2 per cent.
