Taiwan pledges ‘efficient’ measures as markets tumble By Reuters

TAIPEI (Reuters) – Taiwan’s inventory stabilisation fund is paying shut consideration to market situations and can take “efficient” countermeasures, Deputy Finance Minister Frank Juan instructed Reuters on Monday after one other massive fall in share costs.

Taiwan’s fundamentals are nonetheless excellent, however the Nationwide Stabilisation Fund will carefully watch the affect of the worldwide financial system’s doable slowdown, stated Juan, who additionally heads the fund.

Different authorities departments can even monitor the market and take related measures, he stated.

The fund, which is run by the finance ministry, can intervene in shares if the federal government judges there may be a considerable amount of volatility.

Taiwan’s important share index is down greater than 24% up to now this yr and closed down 2.4% on Monday. The market has wilted on considerations the worldwide slowdown will affect the island’s commerce dependent financial system, a significant producer of semiconductors utilized in all the pieces from client electronics to fighter jets.

The federal government nonetheless expects the financial system to develop greater than 3% this yr, although that’s a lot slower than the 6.45% logged for 2021, which was the quickest fee for the reason that 10.25% tempo in 2010.