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September 24, 2017

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Trade pact delay likely to impact stock market

TAIPEI, Taiwan -- With the delay in the implementation of the cross-strait service trade agreement, institutional investors said its ramification is likely to hurt Taiwan's stock market in the long-run.

Legislative Yuan Speaker Wang Jing-pyng (王金平) yesterday made a surprise visit to the Legislative Yuan, which has been occupied by student protesters for close to three weeks.

Accompanied by Kuomintang caucus whip Lin Hung-chih (林鴻池) and Democratic Progressive Party caucus whip Ker Chien-ming (柯建銘), Wang said in his announcement that the Legislature would not deliberate on the much debated cross-strait service trade agreement until the cross-strait negotiation supervision legislation, a new law meant to ensure fair negotiation across the strait, is formalized.

In the wake of the student protest, investors have grown weary about its effects on the stock market. As the local stock market has had strong performance in the past two weeks, the short-term effects appear to be limited.

However, Cathay Futures analyst Boryi Chien (簡伯儀) pointed out that if the debacle of the service trade pact impedes the signing of the cross-strait goods trade agreement, it is likely to hurt Taiwan's effort to participate in regional economic integration.

An analyst from Hantec Securities Consultant Limited pointed out that without the goods trade pact, Taiwan's panel, automobile and petrochemical industries may suffer. Without the goods trade agreement, it does not work in Taiwan's favor in the long run.

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