Foreign fund outflow totals US$10bnBy Kao Shih-ching / Staff reporterThe nation’s net foreign fund outflow last month totaled US$10.389 billion, an all-time record, due to panic-selling by foreign institutional investors, the Financial Supervisory Commission said yesterday. Most foreign institutional investors last month moved their funds out of Taiwan, pushing up fund outflows to a record-high level, Securities and Futures Bureau Deputy Director-General Tsai Li-ling (蔡麗玲) told the Taipei Times by telephone. The commission said that fund outflows are a dynamic movement of foreign funds, especially during major events such as during the 2008-2009 global financial crisis or the European debt crisis, which triggered foreign fund outflows of NT$7.52 billion in October 2008 and NT$8.02 billion in August 2011 respectively. In the first three months, Taiwan saw a foreign net fund outflow of US$12.99 billion, the highest level for a first quarter, while Chinese institutional investors reported a much smaller net fund outflow of US$12 million during the period, the data showed. Net foreign fund outflows would slow down this month, as foreign institutional investors have eased back on selling in the local equity market and the TAIEX yesterday climbed back above 10,000 points, Tsai said.

Source: Taipei Times April 08, 2020 15:56 UTC