Taiwan stocks dropped 5.58 percent to their lowest close in almost a year on Friday, tracking selloffs on Wall Street and regional bourses, with LCD maker Chimei Innolux Corp limit-down after it posted a worse-than-expected quarterly loss and cut its capital expenditure budget.
Every sector of the market lost ground, led by the automobile , glass and optoelectronics sub-indexes, all of which shed more than 6.6 percent. The main TAIEX index finished 464.14 points lower at 7,853.13, its lowest closing level since September 9, 2010. Chimei fell by the maximum 7 percent daily limit and rival AU Optronics Corp also traded limit-down. Hon Hai Precision Industry Co Ltd, a major supplier to Apple Inc , was also limit-down.