Taiwan stock market once fell more than 3,000 points, National Security Fund did not rule out holding an extraordinary meeting
Nguyen Thanh Hua, Undersecretary of the Ministry of Finance and Executive Secretary of the National Security Fund: The National Security Fund will not fail to take action
Quick Look
- Affected by the sharp decline in U.S. stocks, Taiwan stocks collapsed at the opening, plunging more than 3,000 points at one point, the largest intraday drop in history.
- Nguyen Thanh Hua, Undersecretary of the Ministry of Finance and Executive Secretary of the National Security Fund, said that the National Security Fund pays close attention to market conditions.
- If there is disorder or a collapse of confidence in the market, it is not ruled out that an extraordinary meeting will be held to discuss follow-up response measures, and "the National Security Fund will not fail to take action."
AI-generated summary
Why It Matters
As the four major U.S. stock indexes all closed in the black yesterday, with the Philadelphia Semiconductor Index plunging 12.25% at the end, and Asian stocks collapsing across the board, Taiwan stocks collapsed at the opening today, once plunging more than 3,000 points, the largest intraday drop in history.
Taiwan stocks broke the 40,000-point mark today, and the outside world is paying attention to the movements of the National Security Fund. (File photo)
[Reporter Zheng Qifang/Report from Taipei] Affected by the sharp decline in US stocks, the Taiwan stock market collapsed at the opening today, plummeting more than 3,000 points at one point. The outside world is paying attention to the movements of the National Security Fund. In this regard, Nguyen Thanh Hua, Undersecretary of the Ministry of Finance and Executive Secretary of the National Security Fund, said that the National Security Fund pays close attention to market conditions. If there is disorder or a collapse of confidence in the market, it is not ruled out that an extraordinary meeting will be held to discuss follow-up response measures. "The National Security Fund will not fail to take action." It is understood that the National Security Fund will convene an interim committee meeting as soon as today.
The four major U.S. stock indexes all closed in the black yesterday, with the Philadelphia Semiconductor Index plunging 12.25% at the end. Affected by this, Asian stocks collapsed across the board. Taiwan stocks plunged 3,737.67 points in early trading today, with the index reaching a low of 37,837.05 points, the largest intraday drop in history. The outside world is paying attention to whether the National Security Fund has entered the market to protect the market.
Ruan Qinghua said that the domestic fundamentals are still quite solid, and the economic performance is the best in decades. Despite this, "the National Security Fund will not fail to take action." We are still paying close attention. If the legal conditions are met, we will not rule out holding an extraordinary meeting for discussion. Now the decline of the Taiwan stock market has somewhat converged. It fell to 37,000 after the opening and is now back to 39,000. "We are paying close attention and do not rule out holding an extraordinary meeting for discussion."
What to Watch
AI outlook — possibilities, not facts
The National Security Fund will convene an extraordinary committee meeting as soon as today to discuss follow-up response measures
Likely · Within hours
Open Questions
- Will Guoan Fund actually enter the market to protect the market?
- When will the interim committee meeting be held?
- What will be the subsequent trend of Taiwan stocks?
