The Taiwan Stock Exchange has recorded its biggest-ever single-day drop on the first day of trading following a Lunar New Year holiday.
On Thursday, the exchange closed down 5.75%, or 696.97 points, to 11421.74
Dealers say the drop is due to a slump in US stocks and the novel coronavirus outbreak in China. However, they say that while the outbreak has created uncertainty, it will have a short-term impact, and the drop will not change the upward trend of the fundamentals.
On Thursday, Cabinet spokeswoman Kolas Yotaka called for public confidence in Taiwan’s economy, saying that it is not now necessary to activate the National Financial Stabilization Fund.