Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Taiwan tightens curbs after surge in domestic COVID-19 cases

Stock MarketsMay 15, 2021 09:36AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
5/5 © Reuters. Reporters in protective gear work in front of a closed cinema, after the cinemas and other venues were ordered to close amid an increasing number of COVID-19 infections, in Taipei, Taiwan, May 15, 2021. REUTERS/Ann Wang 2/5

By Ben Blanchard and Liang-sa Loh

TAIPEI (Reuters) - Taiwan raised its coronavirus alert level on Saturday in the capital, Taipei, and the surrounding city, bringing curbs for a period of two weeks that will shut many venues and restrict gatherings in the wake of 180 new domestic infections.

Masks are to be worn outdoors for the first time, as the government encourages work and study from home, shutting cinemas and entertainment spots, while limiting gatherings of families and friends to five indoors and 10 outdoors.

Taipei's government has already ordered bars, nightclubs and similar venues to shut.

Health Minister Chen Shih-chung said a "level of risk" in certain hot spots, such as Taipei's gritty Wanhua district, had spurred the decision to raise the alert level.

"Only by doing this can infections be dealt with and controlled," he told reporters.

Taipei Mayor Ko Wen-je urged people to stay home as much as possible, adding that schools teaching should move online.

"During this time, if you have nothing on, then stay at home and don't go out, and if you do, wear a mask to reduce infection from droplets," said Ko, a doctor by training.

President Tsai Ing-wen's spokesman said she would reduce the number of "unnecessary meetings" or public events. The presidential office is close to Wanhua.

Amid pictures on social media showed people flocking to supermarkets to stock up on toilet paper and instant noodles, the economy ministry took to Facebook (NASDAQ:FB) to assure people that supplies were ample and there was no need to hoard.

The rising community infections unnerved the stock market this week, though the government says the island's economic fundamentals remain good.

Deputy Finance Minister Frank Juan told Reuters authorities would watch market reaction on Monday, adding that he did not rule out calling a meeting of the National Stabilisation Fund, which the government can use to smooth large fluctuations.

Investors should act rationally, he said, pointing out that only a few sectors would be affected by the curbs, such as tourism, rather than the island's crucial foreign trade.

The new restrictions do not apply to the chip-manufacturing hub of Hsinchu, and are unlikely to affect exports of semiconductors, a global shortage of which has shut some car factories.

Chipmaking giant Taiwan Semiconductor Manufacturing Co Ltd said it was closely monitoring the situation, cutting non-essential gatherings and activities and reducing the movement of people across different chip fabs.

Taiwan has millions of vaccine doses on order from Moderna (NASDAQ:MRNA) Inc and AstraZeneca (NASDAQ:AZN) Plc, though only a small number have arrived from the latter due to global shortages and vaccination rates remain low.

More vaccines will start arriving next month, Tsai has said.

Since the pandemic began, Taiwan has reported fewer than 1,500 cases among a population of about 24 million, most of them imported from abroad, but a recent rise in community transmissions has spooked residents.

The island has never gone into a full lockdown and its people are used to life carrying on near normal, despite the pandemic ranging in many other parts of the world.

Taiwan tightens curbs after surge in domestic COVID-19 cases
 

Related Articles

Qantas cuts domestic capacity as fuel prices surge
Qantas cuts domestic capacity as fuel prices surge By Reuters - May 25, 2022

(Reuters) - Australia's Qantas Airways Ltd said on Thursday it needs to "rebalance" capacity and airfares to cover the cost of surging fuel prices, cutting its domestic capacity...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Paa Diamond
Paa Diamond May 15, 2021 11:05PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
how can I earn money
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email