Tech Wreck Goes Global - Taiwan Stocks Trounced In Biggest Crash In 54 Year History

zerohedge2021-05-12

Just when you thought it was safe to BTFD in tech stocks (after yesterday's "do you believe in miracles" rebound in US equity markets),the tech-heavy $2 trillion market cap Taiwan Stock Exchange Index...

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Comments

手可摘棉花
2021-05-13
手可摘棉花
So painful to watch
Nez
2021-05-13
Nez
Warning warning
ORNEGU
2021-05-13
ORNEGU
Time to buy in some good ones
- Daveb:
  Dont sell. Keep Holding ???✊?
iamjingxian
2021-05-13
iamjingxian
that’s crazy
MengKeng
2021-05-13
MengKeng
This will meant bursting of bubble coming soon, hold on and then buy at a bulk
Yv777
2021-05-13
Yv777
Finally back to valuation

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And, as Bloomberg reports, on a smaller scale, the same happened in Taiwan.\nAmid global central bank-backed complacency, investors took on increasing amounts of leverage.\nThe result was a 46% expansion in margin debt this year to about NT$274 billion ($9.8 billion) two weeks ago, the highest since 2011.\nBy comparison, the Taiwan benchmark was up just 19% in that period, an indication thatpeople were taking out loans faster than stocks were appreciating.\n\n “Taiwan’s Taiex fell about 8% at one point, and with TSMC, which has the biggest weighting on the measure, slumping,\n the chips sector in Japan is being impacted,” said Ryuta Otsuka, a strategist at Toyo Securities in Tokyo.\n “For now, I’m not seeing a trigger that could reverse the drop.”\n\nThere were also some fundamentals behind the collapse includingfears over a reacceleration in COVID-19 cases.\n\nSource: Bloomberg\nThis has sparked a rapid escalation of restrictions potentially on the island where almost no one is vaccinated, as Liberty Times reports,Taiwan may elevate its alert level further today with the government likely to ban indoor gatherings of over five people and outdoor gatherings of more than 10 people, and it mayrequest non-essential businesses to close their doors.\nGains on Taiex extended this year as the pandemic created a shortage of chips, with the index rising for seven straight months through April, until the reality of inflationary threats and over-leverage hit home in a big way last night.\n\n“Margin trading boosted the Taiex over the past few months, which may add to declines if they face margin calls,”said MasterLink Securities Investment Advisory President Paul Cheng.\n\nAnd as the wave of deleveraging rolls back around the world, Nasdaq futures are giving back yesterday's dead-cat-bounce gains...\n\nAs the Taiex tumbled on Tuesday, the level of margin debt fell by NT$12.6 billion, the most since October 2018.That suggests traders faced margin calls by brokers to cover losses in their stock accounts... will we see the same in the US today?","kind":null,"is_publish_news":false,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":191205437,"gmtCreate":1620878550629,"gmtModify":1704349778860,"author":{"id":"3579342217954724","authorId":"3579342217954724","name":"手可摘棉花","avatar":"https://static.tigerbbs.com/eb5d81ca4420febc27175fcd21eb90b2","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"So painful to watch","listText":"So painful to watch","text":"So painful to watch","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191205437","repostId":1161260146,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":191651660,"gmtCreate":1620876670550,"gmtModify":1704349731446,"author":{"id":"3577664011514694","authorId":"3577664011514694","name":"Nez","avatar":"https://static.tigerbbs.com/b32d6842fa474340581d116936497abb","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Warning warning&nbsp;","listText":"Warning warning&nbsp;","text":"Warning warning","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191651660","repostId":1161260146,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":191842054,"gmtCreate":1620871563478,"gmtModify":1704349608042,"author":{"id":"3576314755404440","authorId":"3576314755404440","name":"ORNEGU","avatar":"https://static.tigerbbs.com/cc9a0db1a49cb16e404b18823322d904","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Time to buy in some good ones&nbsp;","listText":"Time to buy in some good ones&nbsp;","text":"Time to buy in some good ones","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/191842054","repostId":1161260146,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4309729,"gmtCreate":1620874103594,"gmtModify":1680788449954,"authorId":3575141057639271,"author":{"id":3575141057639271,"authorId":3575141057639271,"name":"Daveb","avatar":"https://static.tigerbbs.com/61df162e1597f1b5a6a6bfb13d7d92f5","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":191842054,"type":1,"supId":0,"prevId":0,"content":"Dont sell. Keep Holding ???✊?","text":"Dont sell. Keep Holding ???✊?","html":"Dont sell. Keep Holding ???✊?"}],"langContent":"EN"},{"id":191857493,"gmtCreate":1620871305012,"gmtModify":1704349599813,"author":{"id":"3581622136793314","authorId":"3581622136793314","name":"iamjingxian","avatar":"https://static.tigerbbs.com/4a7d55045354c9b1e5e00823a79034b4","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"that’s crazy","listText":"that’s crazy","text":"that’s crazy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191857493","repostId":1161260146,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":191852103,"gmtCreate":1620871158902,"gmtModify":1704349594811,"author":{"id":"3582668988155006","authorId":"3582668988155006","name":"MengKeng","avatar":"https://static.tigerbbs.com/daf999525f61ba41d3c13b0ed728eb77","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"This will meant bursting of bubble coming soon, hold on and then buy at a bulk","listText":"This will meant bursting of bubble coming soon, hold on and then buy at a bulk","text":"This will meant bursting of bubble coming soon, hold on and then buy at a bulk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191852103","repostId":1161260146,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":191867739,"gmtCreate":1620870385521,"gmtModify":1704349571893,"author":{"id":"3582447838936663","authorId":"3582447838936663","name":"Yv777","avatar":"https://static.tigerbbs.com/53c14349558dee59645251b483870b48","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Finally back to valuation","listText":"Finally back to valuation","text":"Finally back to valuation","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191867739","repostId":1161260146,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":137,"commentSize":45,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1161260146"}