Taiwan says ‘not pessimistic’ about economy as stocks swoon

TAIPEI, July 5 (Reuters) – Taiwan’s Economy Ministry said on Tuesday it was cautious but “not pessimistic” about the island’s economic prospects in the second half of the year, pointing to strong exports, despite a swoon in share prices on its stock market.

After a strong performance through 2020 and 2021, Taiwan assets are being dumped as investors start to worry that rising interest rates around the world are going to hurt economic growth for the export-dependent island, a major producer of…

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