Taiwan shares took a battering on Tuesday as a surge in local COVID cases dampened trader sentiment. The Taiex ended at 16,583 after losing 652 points, its third-largest single-day loss of all time. Turnover reached NT$714.84 billion, the highest level in history.

Electronics stocks led the downturn, with TSMC and Largan falling by 3%. MediaTek and UMC dropped by more than 6%. Meanwhile COVID-related stocks rallied on the back of the outbreak, with cleaning-product manufacturer Mao Bao surging nearly 10%. Vaccine-producing biotech companies were also winners of the session.