The diplomatic row between Taiwan and the Philippines over the May 9 fatal shooting of a Taiwanese fisherman by a Philippine government vessel will have little effect on Taiwan's stock market, several securities investment executives said yesterday.

Taiwan would not accept an apology by Philippine President Benigno Aquino III over the recent killing of a fisherman if it was made to China instead of Taiwan, said Legislative Speaker Wang Jin-pyn (王金平) yesterday.

The Navy is ready for a military exercise in waters south of Taiwan on May 16, but will see how the Philippines responds to Taiwan's demands in a diplomatic row before acting on the plan, the Ministry of National Defense (MND) said yesterday.

The Ministry of National Defense (MND) said yesterday the Navy has several ships that can be used to support the Coast Guard Administration (CGA) in its task of safeguarding Taiwan's fishermen.

China Airlines flight CI-711, scheduled to fly from Kaohsiung to Manila yesterday morning, was delayed after the airline received a phone call claiming that there could be explosives on board.

The United States regrets the tragic death of a Taiwanese fisherman during a confrontation at sea with a Philippine vessel on May 9, and it has been in touch with both sides, U.S. State Department spokeswoman Jen Psaki said Monday.

Tourism authorities and travel agents from the Philippines have withdrawn from participation in the upcoming 2013 Taipei Tourism Expo, assuming that their presence will not attract Taiwanese tourists.

Outbound tourism from Taiwan to the Philippines remains stable despite rising tensions between the two countries over a deadly shooting incident on the high seas, travel industry insiders said yesterday.

Just hours before the midnight deadline, Premier Jiang Yi-huah (江宜樺) yesterday said that Taiwan is ready to introduce economic sanctions against the Philippines if it does not respond to demands regarding last week's shooting of a fisherman.

Tainan and Taipei announced yesterday that the city governments have halted all ongoing or planned exchanges with Philippine counterparts.