TAIPEI (TVBS News) — Taiwan's stock market plunged 991.42 points Friday (Nov. 21) to close at 26,434.94 points, marking the sixth-largest single-day decline in history. Speaking during a visit to Yunlin Chaosing Temple (吳厝朝興宮) in Yunlin County, President Lai Ching-te (賴清德) visited commented on recent developments.
Lai highlighted stock market performance under former presidents, noting Ma Ying-jeou (馬英九) failed to reach his 20,000-point goal, leaving only 8,000 points when former President Tsai Ing-wen (蔡英文) took office. Under Tsai's leadership, the index reached over 23,000 points, while Lai's presidency saw peaks exceeding 28,000 points.
Lai emphasized unity against external threats regardless of party differences. He cited Taiwan's strong economic growth: first-quarter rate of 5.48%, second-quarter 8%, and third-quarter 7.6%, reflecting Taiwan's industrial strength.
Lai outlined government policies: tax reductions, free education for children aged 0-6, tuition waivers for students, NT$35,000 (around US$1,119) subsidies for private college tuition, and Long-term Care 3.0 program. He asserted international confidence remains strong, with average national income at US$38,000, surpassing Japan and South Korea, potentially reaching US$40,000 next year. ◼ (At time of reporting, US$1 equals approximately NT$31.3)