Taiwan shares slide 3% as fresh Covid-19 outbreaks stoke recovery concerns

FILE PHOTO: People wear protective face masks while crossing the street amid the coronavirus disease (COVID-19) pandemic, in Taoyuan, Taiwan, May 12, 2021. REUTERS/Ann Wang

BENGALURU: Taiwan stocks closed 3% lower on Monday, leading declines across most of Asia's emerging markets, as curbs to contain new COVID-19 outbreaks fuelled worries that the region's nascent economic recovery will be derailed.

The island's premier looked to reassure investors that the fundamentals of the trade-dependent economy remain strong as new restrictions went into effect over the weekend. In neighbouring South Korea and Japan, shares closed under 1% lower.