Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 


SummaryMost relevantAll NewsOther languagesMarketScreener Strategies

Taiwan approves $15.2 billion in new spending to deal with COVID-19 impact

05/31/2021 | 05:01am EDT
A woman wearing a protective mask to prevent the spread of the coronavirus disease (COVID-19) walks in the streets in Taipei

TAIPEI (Reuters) -Taiwan's parliament approved on Monday an extra T$420 billion ($15.20 billion) in stimulus spending to help the economy deal with the COVID-19 pandemic, as the island curbs business activity to counter a spike in domestic infections.

Early and effective prevention steps, including largely closing its borders, had succeeded in shielding Taiwan from the worst of the pandemic.

But cases have surged in recent weeks, prompting the government to limit personal gatherings and shut entertainment venues while it tries to speed up its vaccination programme.

The new money is in addition to previously announced stimulus spending worth T$420 billion, and the funding will run until June 30 of next year.

The central bank is also running a separate T$400 billion scheme to provide preferential loans to small and medium-sized business.

Taiwan's government has repeatedly sought to allay fears that the current outbreak of domestic infections will affect the export-dependent economy, a major global supplier of semiconductors.

Taiwan's central bank said on Monday it was paying close attention to how the spread of the virus could affect economic growth and that it will act if needed to ensure financial stability.

However, Taiwan's stock market has largely shaken off concerns about the coronavirus impact, with the benchmark index closing up 1.2% on Monday.

Infections have been heavily concentrated in Taipei and its nearby cities, and the numbers are beginning to fall.

($1 = 27.6240 Taiwan dollars)

(Reporting by Yimou Lee and Ben BlanchardEditing by Shri Navaratnam and Lincoln Feast.)

ę Reuters 2021
All news about MSCI TAIWAN (STRD)
07/30CHUNGHWA TELECOM : Earnings, Sales Increase in Q2, CEO Expects 5G Sign-ups to Re..
07/30Asian Stock Markets Decline on Beijing, Pandemic Outlooks
07/30Taiwan's Q2 GDP growth slows but exports remain strong
07/30DOW JONES FXCM DOLLAR INDEX : ING Says Taiwan's Q2 GDP Grows Strongly But Its De..
07/30EVEREST MEDICINES : Taiwan to Expedite Review of Everest Medicines' Breast Cance..
07/30Taiwan's Second-Quarter GDP Jumped, Despite Local Covid-19 Resurgence
07/30Thai Oil shares fall on financing plans for $1.2 billion Indonesia acquisitio..
07/30TAIWAN SEMICONDUCTOR MANUFACTURING : Apple supplier TSMC reports gas contaminati..
07/29Asian Stock Markets Gain on Beijing, Federal Reserve Outlooks ;Tech Sector Su..
07/29Singapore fuel oil stocks fall as exports to China jump
More news
Duration : Period :
MSCI TAIWAN (STRD) Technical Analysis Chart | MarketScreener
Technical analysis trends MSCI TAIWAN (STRD)
Short TermMid-TermLong Term