Taiwan stocks plunge

Investors are increasingly hunkering down,preparing for further bad news on the world economy. Taiwan stocks fell 2.51 percent on Friday,their largest one-day percentage drop in more than two weeks,as risk appetite evaporated in the face of growing concern over the global economic recovery.

The main TAIEX share index closed down 186.72 points at 7,237.71,and marked its largest daily percentage fall since May 5 when it shed 2.95 percent.

Taiwan8217;s economic expansion moderated in the first quarter and a slower rise in export orders in April suggested that overall growth is returning to sustainable levels after a sharp rebound from recession.