Wednesday, October 8, 2008

Taiwan shares tumble following Wall Street's overnight plunge

TAIPEI, Taiwan (AP) -- Taiwanese shares fell sharply Wednesday, losing 5.76 percent, following Wall Street's overnight plunge.
The weighted price index of the Taiwan Stock market lost 318.26 points to close at the session low of 5,206.40.

The financial sector was the biggest loser, plunging 6.7 percent. Cement shares dropped 6.2 percent.

The tumble came despite media speculation that the government had injected large amounts of money into the market.

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