Taipei:Shares in Taiwan plummeted nearly 961 points on Tuesday, following a significant sell-off in U.S. technology stocks. This downturn was triggered by a Houthi attack on a Saudi Arabian airport, which caused crude oil prices to surge.

According to Focus Taiwan, the Taiex, Taiwan's benchmark index, closed down 960.65 points, or 1.95 percent, ending the day at 48,341.31. This drop came after fluctuations between 48,066.36 and 49,126.27, with a turnover reaching NT$1.13 trillion (US$35.20 billion), up from NT$894.52 billion the previous day.

Moore Securities Investment Consulting analyst Adam Lin noted that the initial losses were sparked by significant declines in U.S. semiconductor stocks following the Saudi airport attack, which pushed oil prices higher. The Philadelphia Semiconductor Index fell by 2.67 percent. The sell-off intensified as investors reacted to falling technology stocks in Seoul, amidst speculation about delays in Nvidia's Vera Rubin platform shipments.

Taiwan Semiconductor Manufacturing Co. (TSMC), a major market player, dropped 1.97 percent to close at NT$2,490.00, contributing approximately 400 points to the Taiex's decline. Nanya Technology Corp. fell 7.40 percent to NT$488.00, following significant losses by South Korean companies Samsung Electronics Co. and SK Hynix Inc.

In other sectors, MediaTek Inc. decreased by 2.16 percent to NT$4,525.00, and Alchip Technologies Ltd. fell 7.74 percent to NT$4,055.00. However, Quanta Computer Inc. saw a modest increase of 0.31 percent to NT$323.00.

Despite the downturn in tech stocks, the Taiex experienced active rotational buying, particularly benefiting petrochemical stocks. Formosa Petrochemical Corp. surged 10 percent to NT$77.80, and Nan Ya Plastics Corp. increased by 5.28 percent to NT$319.00. Formosa Chemicals and Fibre Corp. rose by 1.30 percent to NT$77.80.

The financial sector also saw gains, rising 1.13 percent. CTBC Financial Holding Co. increased by 2.02 percent to NT$71.60, Mega Financial Holding Co. by 1.80 percent to NT$50.90, and Cathay Financial Holding Co. by 1.33 percent to NT$114.50.

Adam Lin remarked that the Taiex demonstrated strong technical support at around 48,000 points, though any recovery would depend on the performance of the U.S. markets. The Taiwan Stock Exchange reported that foreign institutional investors sold a net NT$165.34 billion in shares on the main board, marking the third-largest net sell-off on record.