Stabilization fund activated amid stock market rout‘GLOBAL UNCERTAINTY’: The TAIEX underperformed most of its Asian peers and has recorded the worst decline among global markets since Russia’s invasion of Ukraine The management committee of the National Stabilization Fund has activated the NT$500 billion (US$16.7 billion) fund to bolster the local stock market, the Ministry of Finance said in a statement yesterday. The announcement came after the TAIEX tumbled 25.19 percent from its peak this year, underperforming most of its Asian counterparts, amid mounting uncertainty about the global economy and geopolitical unrest, the ministry said. The TAIEX yesterday plunged 2.72 percent to close at 13,950.62 points, the lowest level in about two years, with a thin turnover of NT$199.67 billion. Weak investor confidence has triggered panic sell-offs, as the local stock market hasBy Lisa Wang

Source: Taipei Times July 18, 2022 22:21 UTC