Taiwan investors face riot police

Press, 30 November 1989, Page 34

Taiwan investors face riot police

NZPA-Reuter Taipei More than 1000 furious Taiwan stock investors shouted insults at riot police in a tense stand-off at the ruling Nationalist Party headquarters on Wednesday after a record one-day drop on the island’s volatile stock market The protestors screamed for the resignation of Taiwan’s Finance Minister and the rest of the Government, saying the Nationalists tricked them into losing money on the stock exchange. “I invested all my money and the prices went down. What kind of country is this?” yelled a middle-aged woman. The Taiwan stock index plunged a record 547.98 points, or 5.72 per cent, to hit 9040.09 — its lowest level since July. It has lost 15% since November 1. The stock market’s fall comes at a tricky time for the Nationalists, who on Saturday will face a legal opposition party for the first time in crucial island-wide elections. Protestors adorned trucks with banners criticising the ruling party for printing a newspaper advertisement earlier this month encouraging people to play the market. The advertisement, which ran for only one day, said the Nationalists promised “Lots of Profit and a Long Bull Run.”