America News Agency

Taiwan plays a central role in the global economy due to its status as a hub for computer chip production as well as the companies in the broader technology supply chain.

The epicenter of the earthquake was on the island's eastern coast, while most technology production is in the west. However, the earthquake affected production in chip factories reliant on highly sensitive machines.

The share price of Taiwan Semiconductor Manufacturing Co., which produces some of the most advanced chips in the world, fell by 1.3 percent on Wednesday. The company said in a statement it is still trying to understand how the earthquake has impacted its operations.

The statement said, "TSMC's security systems are operating normally. Precautionary measures have been taken, and some factories have been evacuated. All employees are safe, and those evacuated have begun to return to the workplace."

Initial assessments after the earthquake indicated the factories were normal.

However, the company has decided to suspend work in the factories for today, with work set to resume after further assessments.

Shares of Apple's major supplier, Foxconn, fell by 1.4 percent, while shares of TV panel manufacturer, AU Optronics, fell by 1.9 percent.