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Taiwan stocks swoon on COVID-19 fears despite reassurance efforts

Article content TAIPEI Taiwan stocks closed 3% lower on Monday even as the premier sought to reassure that the island’s economic fundamentals were good, with demand for export orders strong and production activities normal. A sudden surge in domestic COVID-19 infections, more than 700 over the past week, and Saturday’s raising of restrictions in the capital Taipei, have spooked a population that had become used to life carrying on almost as normal with the pandemic previously well under control. We apologize, but this video has failed to load. Try refreshing your browser, or Taiwan stocks swoon on COVID-19 fears despite reassurance efforts Back to video

UPDATE 6-Taiwan stocks swoon on COVID-19 fears despite reassurance efforts

(Adds reinstatement of travel restrictions) TAIPEI, May 17 (Reuters) - Taiwan stocks closed 3% lower on Monday even as the premier sought to reassure that the island’s economic fundamentals were good, with demand for export orders strong and production activities normal. A sudden surge in domestic COVID-19 infections, more than 700 over the past week, and Saturday’s raising of restrictions in the capital Taipei, have spooked a population that had become used to life carrying on almost as normal with the pandemic previously well under control. The government has repeatedly tried to reassure people that the economy remains strong and there is no undue cause for alarm, even amid volatility and sharp falls in the stock market.

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