00:00Taiwan's stock market plunged on Monday, seeing its second-largest intraday drop on record,
00:05with cheap giant TSMC also posting its biggest loss ever amid the escalating war in the Middle
00:10East.
00:10It's part of a trend across Asian markets, as investors rush to buy U.S. dollars.
00:15There are concerns over Taiwan's energy supply after Qatar, which provides about one-third
00:20of the country's liquefied natural gas, holding production.
00:23And as global oil prices surge to more than US$100 per barrel for the first time in almost
00:28four years.
00:29The government is moving to reassure the public, saying there will be no natural gas shortage
00:34before April.
00:35We've left two tanks.
00:36I believe we can be done in very soon.
00:41We won't be缺aged.
00:45We don't need to increase the燃煤 and power supply.
00:53We will be able to increase the equilibrium rate and keep our supply chain in the final
01:00phase.
01:01We will be able to increase the economy while we're able to increase our demand to the
01:05State-owned energy supplier CPC also announced a price hike of about 5%, with the government
01:11absorbing 70% of the impact.
01:12People in Taipei are already seeing the higher prices at the pump.
01:35Some analysts say this will stabilize prices in the short term
01:38but may not be sustainable if the war in Iran drags on.
01:42In one or two weeks, the oil prices will collapse very quickly and the economy will start to move forward.
01:49But if the war has been a long time, for example, over two to three months,
01:54it will be a big impact on the economy and the economic market.
02:01That risk isn't deterring Taiwan's economic officials.
02:04On Monday, the National Development Council reported the economy is still booming,
02:08but it will keep a close eye on Finns.
02:10The government says the financial stabilization fund may be activated
02:14to stabilize the market if the downturn worsens.
02:17It also says it's looking into alternative energy supplies
02:20and the nuclear power plant restart plan will be reviewed by the end of the month as scheduled.
02:25Patrick Chen, an IT in Taipei for Taiwan Plus.
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