Police on horseback and wielding batons clashed with rock and bottle-throwing demonstrators outside a meeting of some the world's top financial officials yesterday, turning what had been promised as a peaceful rally against poverty into running street skirmishes.
One officer was taken to hospital with a wrist broken by a toppled steel barricade and several other police received scratches and bruises but stayed on duty, police said.
Two demonstrators were arrested, and more arrests were expected, Victoria state Chief Commissioner Christine Nixon said.
"They threw missiles and rocks, bins -- anything they could get their hands on they threw it at police and damaged property," she told reporters. "We have not had anything like this, any kind of violent demonstration in the last six years."
Police on horseback and other uniform and riot officers brandishing shields and batons kept protesters out of the plush hotel where US Federal Reserve Chairman Ben Bernanke and top officials from Europe, Asia and Latin America opened two days of talks on global economic issues.
Protesters ripped apart traffic barricades and sprayed slogans on at least one building, reporters and photographers at the scene said.
At one place, about 200 demonstrators rained stones, glass bottles and plastic garbage bins down on about one dozen police standing near a police car and truck parked outside the security perimeter, an AP photographer said.
The police ducked behind the vehicles to avoid the barrage, until a contingent of mounted police charged from behind the security fence and drove the protesters off.
About 200 charging demonstrators threw brown smoke grenades at a line of mounted police at a barricade but were beaten back by officers wielding batons. It was unclear whether anyone was injured.
About 3,000 people rallied at a city park around midday yesterday, then marched on the meeting of the Group of 20 finance minister and central bankers. But most of the violence appeared to center around a group of about 200 demonstrators dressed in white coveralls with red bandanas tied around their faces.
The group ran from one location to another near the venue, challenging police before retreating.
The unrest recalled the widespread violence at anti-globalization protests that marked the WTO's meeting in Seattle in 1999, and a meeting of the World Economic Forum in Melbourne the following year.
"There is a hardcore militant and violent element among these protesters," Australian Treasurer Peter Costello, the G20 meeting's chairman, told a news conference after the day's deliberations.
"These are people who want to trash the streets of Melbourne and trash the reputation of Australia," he said. "We won't stand for that."
Nixon blamed the violence on fewer than 100 protesters dressed in white whom police knew were coming with the intention of creating violence. She would not name the group they represented, saying she did not want to give them publicity.
The US dollar was trading at NT$29.7 at 10am today on the Taipei Foreign Exchange, as the New Taiwan dollar gained NT$1.364 from the previous close last week. The NT dollar continued to rise today, after surging 3.07 percent on Friday. After opening at NT$30.91, the NT dollar gained more than NT$1 in just 15 minutes, briefly passing the NT$30 mark. Before the US Department of the Treasury's semi-annual currency report came out, expectations that the NT dollar would keep rising were already building. The NT dollar on Friday closed at NT$31.064, up by NT$0.953 — a 3.07 percent single-day gain. Today,
‘SHORT TERM’: The local currency would likely remain strong in the near term, driven by anticipated US trade pressure, capital inflows and expectations of a US Fed rate cut The US dollar is expected to fall below NT$30 in the near term, as traders anticipate increased pressure from Washington for Taiwan to allow the New Taiwan dollar to appreciate, Cathay United Bank (國泰世華銀行) chief economist Lin Chi-chao (林啟超) said. Following a sharp drop in the greenback against the NT dollar on Friday, Lin told the Central News Agency that the local currency is likely to remain strong in the short term, driven in part by market psychology surrounding anticipated US policy pressure. On Friday, the US dollar fell NT$0.953, or 3.07 percent, closing at NT$31.064 — its lowest level since Jan.
The New Taiwan dollar and Taiwanese stocks surged on signs that trade tensions between the world’s top two economies might start easing and as US tech earnings boosted the outlook of the nation’s semiconductor exports. The NT dollar strengthened as much as 3.8 percent versus the US dollar to 30.815, the biggest intraday gain since January 2011, closing at NT$31.064. The benchmark TAIEX jumped 2.73 percent to outperform the region’s equity gauges. Outlook for global trade improved after China said it is assessing possible trade talks with the US, providing a boost for the nation’s currency and shares. As the NT dollar
The Financial Supervisory Commission (FSC) yesterday met with some of the nation’s largest insurance companies as a skyrocketing New Taiwan dollar piles pressure on their hundreds of billions of dollars in US bond investments. The commission has asked some life insurance firms, among the biggest Asian holders of US debt, to discuss how the rapidly strengthening NT dollar has impacted their operations, people familiar with the matter said. The meeting took place as the NT dollar jumped as much as 5 percent yesterday, its biggest intraday gain in more than three decades. The local currency surged as exporters rushed to