TAIEX tumbles 2,953.71 points amid tech selloff

HISTORIC RETREAT: The TSMC hit dragged down the sector, as proprietary dealers cut NT$82.18bn of positions and foreign investors dumped NT$189.04bn worth of shares By Crystal Hsu / Staff reporter Add TT as Preferred Source Taiwanese stocks suffered a historic rout yesterday as investors locked in gains from the artificial intelligence (AI) boom, triggering a broad-based selloff in technology shares that marked the largest point decline in the TAIEX’s history.The benchmark plunged 2,953.71 points, or 6.47 percent, to close at 42,671.27, wiping out a significant portion of recent gains. Turnover was NT$1.213 trillion (US$37.57 billion). An electronic board shows stock prices in Taipei yesterday. Photo: CNA The sharp retreat reflected an aggressive unwinding of AI-related positions after a pr