Formosa Plastics Corp

The Taiwan stock market may pause its three-session rally on Wednesday after global sentiment turned negative on renewed interest rate worries. The Taiwan Stock Exchange index added 103.56 points, or 0.44 percent, to close at 23,651.27 on Tuesday, bringing its three-day gain to more than 800 points, or 3.4 percent. Wall Street fell sharply, with the Dow dropping 178.20 points, the Nasdaq plummeting 375.30 points, and the S&P 500 sinking 66.35 points, as a jump in Treasury yields to an eight-month high and upbeat U.S. economic data fueled concerns about sticky inflation. Among local shares, Taiwan Semiconductor Manufacturing Company rose 0.44 percent, while Formosa Plastics plummeted 4.69 percent and Nan Ya Plastics plunged 4.16 percent.