On October 14, 2024, the Chinese Communist Party (CCP) announced military exercises targeting Taiwan in the early hours of the day. However, the Taiwan stock market remained unfazed by the CCP’s military maneuvers. The weighted index closed up 73.65 points at 22,975.29, with a total market turnover of 314.948 billion New Taiwan dollars (approximately 10.333 billion US dollars).
The CCP’s Eastern Theater Command stated this morning that they have organized ground, naval, air, rocket forces, and other military units to conduct the “Joint Sword-2024B Exercise” in the Taiwan Strait region, northern and southern Taiwan, and the eastern region. The exercise focuses on practicing sea-air battle readiness patrols, port and domain control, maritime and land strikes, and seizing comprehensive control, aiming to test joint operation capabilities.
The Taiwanese stock market experienced volatile movements today. With Taiwan Semiconductor leading the gains, the weighted index closed at 22,975.29 points, up by 73.65 points, a 0.32% increase. The market turnover reached 314.948 billion New Taiwan dollars by the end of the session.
Veteran media personality Huang Weihan posted on Facebook that even before President Lai Ching-te delivered the National Day speech, the U.S. State Department had already indicated that the mainland would take advantage of the National Day speech to conduct military exercises against Taiwan. Taiwanese national security officials had also forewarned of the upcoming “Joint Sword-2024B” military exercise. Therefore, when the CCP announced the military exercises today, he believes that most Taiwanese people were already mentally prepared and not excessively worried.
The spokesperson for the Republic of China (Taiwan) Executive Yuan, Li Huizhi, emphasized to the media today that the Presidential Office had convened a high-level national security meeting. Following the meeting, Prime Minister Cho Rong-tae has instructed all ministries to be vigilant about the impact of the military exercises on domestic stocks, exchange rates, information security, public order, etc., assuring the public to remain calm.