Taiwan’s stock market has taken a hit, falling over 4% to its lowest level in almost two years. Deputy Finance Minister Juan Ching-hua said on Tuesday that economic factors are affecting the market and the government is involved and monitoring the situation.
Juan says various factors are forcing the market's decline. US markets are falling, causing a chill around the world. Juan says Taiwan’s economy is reliant on exports, meaning the global economy will always have a significant influence.
Juan adds new US semiconductor regulations are also affecting some of Taiwan’s largest companies. On Tuesday share prices for TSMC, Taiwan’s largest company, fell by 7%, dragging the market down. Juan says authorities will continue to monitor new regulations and TSMC’s upcoming investors’ meeting.
Juan says the recent stock slide has little to do with cross-strait tensions. He says authorities are involved in the situation and monitoring how the domestic economic situation develops.