WORTH WATCHING: Analysts were more concerned about the meeting between Trump and Xi in Buenos Aires this week than the DPP’s poor local election results

Taipei Times
Date: Nov 26, 2018
By: Chen Cheng-hui  /  Staff reporter

The results of Saturday’s nine-in-one elections might result in short-term volatility on the local stock market, equity strategists said yesterday.

However, the market’s medium to long-term outlook would rely more on the ongoing US-China trade row and the meeting scheduled between US President Donald Trump and Chinese President Xi Jinping (習近平) in Buenos Aires later this week, they said.

The ruling Democratic Progressive Party (DPP) won in only six of 22 cities and counties, with 15 cities or counties going to the Chinese Nationalist Party (KMT), including some significant DPP strongholds, such as Kaohsiung and Yilan County.

“The developments in global stock markets will be the major driving force behind the future movement of local equities,” Masterlink Securities Investment Advisory Corp (元富投顧) president Liu Kun-hsi (劉坤錫) was quoted by the Central News Agency as saying.    [FULL  STORY]