Taiwan's governing party, the Democratic Progressive Party, has won a third consecutive presidential election this weekend. Incumbent president, Tsai Ing-Wen, was not eligible for re-election because of term-limits, but the DPP's candidate, Vice President Lai Ching-te, has secured a solid victory over the opposition Kuomintang's candidate, Hou Yu-ih. Although the DPP has won the presidency again, it seems likely to lose control of the legislature.

The DPP's position on Taiwan's national identity has been strongly opposed by mainland China's leadership, which suspended cross-strait official communications after the DPP won the presidency in 2016. Chinese officials and state media have been highly critical of Mr Lai ahead of the election, accusing him of having a separatist stance, and it seems likely that cross-strait relations will remain under pressure once he takes office.

Global-FYI tracks critical developments fon the global markets including political news, special central bank announcements, and substantial moves in the financial markets.

Major political events and special announcements by the global central banks can shift both the short-term and long-term outlooks for the global economy and financial markets.