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Taiwan reassures on economy as stocks fall amid COVID-19 spike

TAIPEI, May 17 (Reuters) - Taiwan’s economic fundamentals are good with demand for export orders strong and production activities normal, and the government is prepared to stabilise the stock and foreign exchange markets if needed, the premier said on Monday.

Premier Su Tseng-chang made the comments on his Facebook page amid a spike in domestic COVID-19 infections and the raising of the alert level for Taipei on Saturday.

Taiwan’s benchmark stock index fell as much as 3% shortly after opening on Monday morning before recouping some losses and was down around 1.3%. (Reporting by Ben Blanchard and Yimou Lee; Editing by Christian Schmollinger)

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