Taiwan activates stabilization fund after Taiex drops 1,873 points
Briefing by News4U · First published
Taiwan's Taiex closed down 1,873.08 points, or 4.51 percent, at 39,701.64 on November 6 after an overnight Wall Street selloff in AI stocks, marking its fourth-largest single-day point loss. The index fell as low as 37,837.05 before recovering on hopes of government support. The Financial Supervisory Commission said it would convene a meeting later that day to discuss market-support measures, and the committee overseeing the National Financial Stabilization Fund said it could hold a special meeting to decide whether the fund should intervene. Foreign institutional investors sold a net NT$91.19 billion worth of shares. TSMC recovered from a 10 percent intraday drop to close down 4.69 percent at NT$2,135.00. [1] [2] [3]
Sources
- Taiex closes below 40,000 in 4th-largest single-day point loss
Focus Taiwan · · Full text
- Taiwan to Deploy Market Stabilization Fund After Stock Rout
Bloomberg · · Summary only
- Taiwan Activates Market-Stabilization Measures to Stem AI Bleeding
WSJ Markets · · Summary only