(Bloomberg) -- Taiwan stocks tumbled, putting the benchmark index on course for a technical correction, as concern over further tightening of coronavirus-linked restrictions and a global tech selloff spooked investors.
The Taiwan Stock Exchange Weighted Index slumped as much as 5.8%, extending losses from an April peak to more than 10%. Heavyweight Taiwan Semiconductor Manufacturing Co. and Hon Hai Precision Industry Co. were the biggest drags.
The equity gauge was among Asia’s best performers before it started to retreat since the end of April. Taiwan may elevate its alert level on Covid-19 further today after banning large gatherings Tuesday, Taipei-based Liberty Times reported, citing health minister Chen Shih-chung.
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