Ministry urges calm amid TAIEX routECONOMIC BACKBONE: While restrictions would weigh on catering and tourism, high-tech firms in the Hsinchu Science Park might face fewer disruptions, an official saidBy Chen Cheng-hui / Staff reporterThe Ministry of Finance on Saturday urged investors to stay calm after a spike in domestic COVID-19 infections and a global technology shares selloff unnerved the local stock market last week. Deputy Minister of Finance Frank Juan speaks at a meeting of the legislature’s Finance Committee on Nov. 4 last year. Photo: CNAThe NT$500 billion (US$17.85 billion) fund was set up by the government as a buffer against unexpected external factors disrupting the local stock market. Juan said that government agencies would hold meetings soon to discuss necessary stock market measures, including lowering the maximum allowable daily drop in equities, to help stabilize the market. Domestic consumption, including catering and tourism, would likely be affected in the short term due to the tighter COVID-19 restrictions, he said, but added that import and export sectors, and manufacturing would not be affected.

Source: Taipei Times May 16, 2021 15:56 UTC