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Taiwan 'suggests' state-owned banks buy stocks as market falls


Taiwan suggests state-owned banks buy stocks as market falls - sources
05/13/2021 | 01:55am EDT
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TAIPEI (Reuters) - Taiwan s finance ministry has called state-owned banks to suggest they buy stocks amid steep falls on the island s stock market, three sources familiar with the matter told Reuters on Thursday.
The benchmark index fell as much as 8% on Wednesday and closed down more than 4% on fears about rising domestic COVID-19 infections in Taiwan, which has generally kept the pandemic well under control. The index closed down a further 1.5% on Thursday.
The sources, who spoke on condition of anonymity as they were not authorised to speak to the media, said the Finance Ministry had suggested they buy large-cap stocks to take advantage of their lower price, but also stocks in traditional industries. ....

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