American development bank opens first office in Asia in Taiwan focustaiwan.tw - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from focustaiwan.tw Daily Mail and Mail on Sunday newspapers.
Taiwan’s Stock Crash Deepens as Traders Unwind Leveraged Bets
Bloomberg 2 hrs ago Sofia Horta e Costa
(Bloomberg) Taiwan stocks sank for a third day in volatile trading, extending a rout that’s triggered the fastest liquidation of leveraged positions since 2018.
Popular Searches
The Taiex closed 1.5% lower at 15,670.10 points, taking its decline from the April 27 peak to 11%, a technical correction. Over the past four days, the benchmark lost 9.3% on concerns over further tightening of coronavirus-linked restrictions. It briefly pared losses on Thursday morning after Apple Daily reported that the government sees a lower chance of raising the Covid-19 alert level.
Stabilization fund commission mulls meeting after market plunge
05/12/2021 07:41 PM
CNA file photo
Taipei, May 12 (CNA) The National Stabilization Fund commission could meet soon following heavy losses on the local equity market, at a time of rising fears over domestically transmitted COVID-19 cases in Taiwan, Finance Minister Su Jain-rong (蘇建榮) said Wednesday.
When asked by lawmakers whether the stabilization fund would intervene in the market to smooth volatility, Su said that the commission could meet shortly to discuss whether to enter the market.
The NT$500 billion (US$17.85 billion) stabilization fund was set up in 2000 by the government to serve as a buffer against unexpected external factors that might disrupt the local bourse.
The TAIEX yesterday sank by 680.76 points, or 4.11 percent, to close at 15,902.37 points, the second-
largest one-day drop after a fall of 696 points on Jan. 30 last year, amid concern over the rising number of local COVID-19 infections, analysts said.
The weighted index, which closed at 16,583.13 points on Tuesday, opened down and lost 300 points in the first 15 minutes of trading, before climbing to 16,550 points at 9:46am, Taiwan Stock Exchange (TWSE) data showed.
However, it lost its footing again, plunging 1,400 points to 15,165.27 points at 11:25am. That represented a drop of 9 percent the largest
2021/05/04 15:49 Investors watching the Taiex stumble Tuesday Investors watching the Taiex stumble Tuesday (CNA photo) TAIPEI (Taiwan News) Taiwan’s stock market index, the Taiex, plunged 500 points Tuesday (May 4) morning before closing down 288.57 points, falling below the 17,000 mark. The 1.68-percent drop saw the Taiex end at 16,933.78 on a record turnover of NT$664.2 billion (US$23.76 billion), CNA reported. The Taiex first broke through the psychological barrier of 17,000 on April 15. While short-term fluctuations are unavoidable, the economic outlook for the country still looks good in the longer term, with the government recently estimating that economic growth during the first quarter reached 8.16 percent, Finance Minister Su Jain-rong (蘇建榮) said.