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TAIEX, NT both close down as last trading session closes

TAIPEI, Taiwan -- The Taiwan share market on Monday — the last trading session before the Lunar New Year Vacation — dropped 1.57 percent while the new Taiwan dollar (NT) closed at the day's low of NT$30.511 against the greenback in Taipei.

According to the Central News Agency (CNA), the U.S. dollar rose against the Taiwan dollar Monday, gaining NT$0.091 to close at the day's high of NT$30.511. Turnover totaled US$1.22 billion during the trading session. The greenback opened at NT$30.430 and moved to a low of NT$30.120 before rebounding.

Taiwan share prices closed down 135.74 points, or 1.57 percent, at 8,462.57 Monday — the last trading day of the Year of the Snake — on turnover of NT$99.16 billion.

Taiwan's stock exchange last closed down in the final trading session before going on vacation for the Chinese New Year holiday in 1998, when it fell 13.18 points to 8,085.47.

It was also only the second time the market closed below 8,500 points during the month of January. Losses were felt across the board, with several old economy sectors the hardest hit.

The sub-indexes for glass, steel and plastics shares fell 3.11 percent, 2.14 percent and 2.03 percent, respectively.

The bellwether electronics sector also struggled, losing 1.74 percent during the session. Shares in the financial sector closed down 1.69 percent.

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