Tens of thousands of red-clad protesters thronged Taipei Saturday, demanding that Taiwan leader Chen Shui-bian resign over a series of alleged corruption scandals involving his family and inner circle.

Protesters shout slogans and gesture during a rally calling for Taiwan President Chen Shui-bian to step down, in Taipei September 9, 2006. [Reuters]

The color of their clothes symbolizing anger, the protesters shouted slogans and gave the "thumbs down" gesture, emblematic of their feeling that Chen should resign to restore the dignity of the 23 million people in Taiwan.

Police estimated 90,000 people took to the streets, though protest organizers claimed they reached their target of 200,000.

Protest leader Shih Ming-teh said Taiwan would be paralyzed if Chen served out his term, which ends in May 2008.

"The people of Taiwan have the power to ask Chen to step down," Shih said. "We will not stop this protest until he does."

Organisers said the mass protest was triggered by public frustration over a series of scandals involving Chen's family and officials in his administration.

Last week Chen admitted that he had used other people's receipts to write off his official expenses, Taiwan media reported.

In July, his son-in-law was indicted for alleged insider trading involving a local development firm, a charge he denies. Chen's wife Wu Shu-chen is also under investigation for allegedly profiting from the transfer of an upscale department store to new owners. Chen's office insists she was not involved.

Several high-level officials have also stepped down prematurely this year due to a series of corruption scandals.

On Saturday, Chen returned to his hometown in the southern county in Tainan, meeting his supporters and praying for his political survival.

Chen's office has said the leader would neither step down nor meet the crowd. He rejects the allegations of corruption and says he did not pocket any money from the "state affairs budget".

Taiwan's financial markets have come under pressure this week in the run-up to the protest, organised by the "Million Person Depose Bian" movement led by Shih Ming-teh, former chairman of the ruling Democratic Progressive Party.

In Taipei, chants of "A-bian step down," a reference to Chen's nickname, broke out occasionally, and people wore shirts with similar themes and waved balloons in the shape of a thumbs-down.

"On September 9, we stand here, we sit here, to call on A-bian to step down," said Shih.

"Brothers and sisters, today is a moment in history. The people of Taiwan are watching, the world is watching. They are looking to see if we have the resolve to make A-bian step down."