Taiwan Stock Benchmark Falls 20% From Peak, Set for Bear Market

(Bloomberg) — Taiwan’s stock market slid again on Friday, taking its decline from a January high to over 20% and is on track to enter a bear market.

The Taiex gauge dropped as much as 1.1% in Taipei. Taiwan Semiconductor Manufacturing Co., which accounts for more than a quarter of the index’s weighting, declined as much as 2.1%.

Tech-heavy equity markets in Taiwan and Korea were among the worst performers in Asia last quarter, both down over 15% amid rate hikes by global central banks. Foreign investors net sold more than $16 billion of Taiwan stocks during the three-month period, the most among emerging Asian markets outside of China. 

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