Taiwan’s stock market closed lower on Mar. 7, amid concerns over US trade policies, with new tariffs targeting Canada, Mexico, and China.

The Taiex, Taiwan’s weighted index, decreased by 139.36 points, or 0.61%, finishing at 22,576.07, with a total turnover of NT$350.18 billion (US$10.67 billion).

The decline followed losses in US markets, where the Dow Jones Industrial Average fell by 0.99% and the Nasdaq index dropped by 2.61%.

Despite market pressures, Taiwan Semiconductor Manufacturing Co. (TSMC) remained unchanged, closing at NT$1,005.00 (US$30.63) after briefly dipping to NT$1,000.00 (US$30.47).

Market analysts indicated that TSMC’s stability may have mitigated broader losses. Lu Chin-wei, an analyst at Concord Capital Management, noted the possibility of government-backed funds intervening to support TSMC amid significant selling by foreign institutional investors.

On Mar. 7, foreign institutional investors sold a net NT$29.50 billion (US$898.77 million) worth of shares, contributing to a total weekly net sale of NT$149.70 billion (US$4.56 billion), according to the Taiwan Stock Exchange.

Analysts expect continued market pressure as the consequences of US trade policies evolve.