Stories from Taiwan

The Control Yuan is considering legislative amendments to the Political Donations Act that would prohibit the use of cryptocurrency and online crowdfunding for political contributions. The Taipei City Police Department has launched investigations into allegations of sexual harassment and workplace bullying. Taiwanese authorities are investigating allegations of collective corruption involving high-ranking Navy officials and a French arms dealer. The Ministry of Transportation is investigating a security incident involving Taiwan's High Speed Rail. Officials are examining whether the issue stems from internal failures, external control, or password theft. The investigation aims to determine if an unauthorized person could trigger emergency signals to force trains to stop. The Ministry described the case as an internal matter currently undergoing clarification.

The Taiwan benchmark index experienced extreme volatility on Thursday, swinging more than 1,700 points during trading. Despite the massive intraday movement, the index ultimately closed lower amid significant profit-taking by investors. This volatility follows a period of record turnover in the local market. The UK stock market fell 15 points to close at 10,363. The Taipei stock market closed the year with a gain of 684 points, reaching a level of 39,616 points. Foreign investors sold 39.29 billion TWD worth of shares, offsetting domestic buying from investment trusts and self-operated firms. The decline was driven by heavy selling of TSMC shares. Market participants are monitoring potential shifts in AI computing power procurement following reports regarding OpenAI's profitability.

The High Court in Taiwan ordered former Kuomintang (KMT) legislator Lee De-wei to pay NT$1.2 million for defamation. The ruling follows legal proceedings regarding statements made against a former official. This decision underscores the legal consequences for political figures regarding defamatory speech in the region. A court ruling regarding a former member of the Taiwan People's Party may require the restoration of their party membership.

Taiwanese Premier Cho Jung-tai announced on Tuesday that sprouted potatoes originating from the United States will be strictly prohibited from entering the local market. This decision aims to protect domestic agricultural interests and food safety standards. The move follows specific legislative discussions regarding imported produce quality. Members of the Kuomintang party questioned executive officials in the legislature regarding food safety.