Taipei - The Taiwan stock market plunged nearly 4 per cent in early Friday trading after an overnight fall on Wall Street.

Half an hour after the Taiwan stock market opened, the TAIEX index plunged 284.1 points, or 3.64 per cent, to 7,527.7 points.

Analysts attributed the dive to Thursday's fall on Wall Street and to Taiwan's central bank's raising of the discount rate and lifting the reserve ratio on passbook savings and on term deposits, an action taken Thursday. (dpa)