News that Russia has launched a military operation in Ukraine has prompted Taiwan’s stock index to fall. At the time of writing on Thursday, TAIEX, which is Taiwan’s weighted stock index, has dropped 2.55% from yesterday. The index is at its lowest point since December last year.
Taiwan’s government says that Taiwan’s economic fundamentals are good and that it is natural for markets to respond to news of conflict. The government says it is watching markets for any signs of panic. If those signs occur and markets stop functioning normally, the government says it is ready to step in.
Premier Su Tseng-chang says Taiwan and Ukraine’s roles in global supply chains are different. Nonetheless, Su says he is asking government ministries to make sure the prices of important goods and materials stay stable.
The economics ministry says right now, some of Taiwan’s natural gas supply is imported from Russia. The ministry says the contract for that gas expires in March.