10/01 19:27

Taiwan May Convene National Economic Summit to Discuss Slumping Stock Market, China Post Reports

By Brett Cole

Taipei, Oct. 2 (Bloomberg) -- Taiwan's President Chen Shui- bian may invite Taiwan's leading businessmen and politicians to a national conference to discuss the island's economy, the China Post reported.

The newspaper, without citing sources, said the poor performance of the stock market and concerns about economic growth prompted the idea for the meeting.

Tseng Fan-cheng, director general of Taiwan Semiconductor Manufacturing Co., blamed the slump in Taiwan's benchmark TWSE Index to lack of confidence in the Chen administration, it reported.

On Saturday, the TWSE Index fell to its lowest level since Feb. 23, 1999, amid concern about the government's ability to pass laws in an opposition-dominated parliament, allegations of corruption by leading politicians and businessmen and signs of slowing demand for the island's electronic products.

(China Post, 10/2, p.20. Web Site see www.chinapost.com.tw)

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-- Carl Jenkins (Somewherepress@aol.com), October 02, 2000