Taiwan's Lai Wins Presidency But DPP Loses Parliamentary Majority
• Lai Ching-te won Taiwan's presidential election, his party the DPP lost parliamentary majority • Results could lead to light selloff in Taiwan's stock market over economic policy concerns • Outcome relieves worries Lai would push for formal Taiwan independence, angering China • China took gentle tone post-election, but remains a wild card regarding global market impact • Taiwan Semiconductor Manufacturing Co. shares surged 32% in 2023 amid geopolitical tensions