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BackTaiwan stocks plummet, Financial Supervisory Commission Chairman Peng Jinlong: Rescue measures will be announced in the afternoon
Taiwan stocks plummet, Financial Supervisory Commission Chairman Peng Jinlong: Rescue measures will be announced in the afternoon
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自由时报12 minutes agoBusiness2 min readChinaView original

Taiwan stocks plummet, Financial Supervisory Commission Chairman Peng Jinlong: Rescue measures will be announced in the afternoon

In an interview, the chairman of the Financial Supervisory Commission pointed out that he had received instructions from Executive Director Zhuo Yongtai to respond to the intraday plunge of more than 3,000 points in the Taiwan stock market.

Taiwan stocksbailout measuresSpace restriction order

Quick Look

  • Affected by international stock markets, Taiwan stocks plunged more than 3,000 points during the session on the 6th.
  • Peng Jinlong, chairman of the Financial Supervisory Commission, said that Executive Yuan Zhuo Rongtai has issued instructions and will announce rescue measures in the afternoon, and outsiders are judging that an air restriction order may be issued.
  • Peng Jinlong emphasized that Taiwan's economic fundamentals are intact and called on investors not to panic excessively.

AI-generated summary

Why It Matters

Affected by the international stock market, Taiwan stocks plunged more than 3,000 points during the session on the 6th. Financial Supervisory Commission Chairman Peng Jinlong said that he had received instructions from Executive President Zhuo Yongtai and would announce market rescue measures in the afternoon.

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Affected by the international stock market, Taiwan stocks plunged more than 3,000 points during the session today (6th), and the decline narrowed after the mid-term. In response, Chairman Peng Jinlong of the Financial Supervisory Commission pointed out in an interview in front of the Asian Asset Management Center Forum hosted by the Business Times this morning that he has received instructions from Executive President Zhuo Yongtai and will announce market rescue measures in the afternoon. According to external research, a short-term order may be issued.

Regarding the collapse of the Taiwan stock market today, Chairman of the Financial Supervisory Commission Peng Jinlong was interviewed before attending the "Asian Asset Management Center Forum" in Kaohsiung today. In response to the recent violent fluctuations in the international stock market, President Zhuo Rongtai made an explanation and issued instructions at the Legislative Yuan in the morning, requesting the Ministry of Finance and Economics to respond to the current situation of the stock market, so it will be announced in the afternoon.

Peng Jinlong emphasized that there are no problems with Taiwan's overall economic conditions and fundamentals, and called on investors to have confidence in the mid- to long-term development of Taiwan's industries and not to panic excessively.

Peng Jinlong also said that Taiwan's stock market was not the only one to fall today. Stock markets in many countries have experienced special situations of sharp fluctuations. Therefore, in the afternoon, a special meeting will be held to respond to today's stock market results and corresponding measures will be taken. "In the past, the government had extensive experience in dealing with various stock market changes, and most of the measures implemented were able to stabilize the market."

Will any specific measures such as an "air restriction order" be issued this afternoon? Peng Jinlong hinted that he could "give a preview."

What to Watch

AI outlook — possibilities, not facts

  • Air restrictions and other rescue measures will be issued in the afternoon

    Likely · Within hours

Open Questions

  • What are the specific contents of the rescue measures? Will an air restriction order be issued? Can bailout measures stabilize the stock market?

Related Topics

Taiwan stocks
PeoplePeng JinlongZhuo RongtaiGe Youhao
Organizationsfinancial regulatory commissionExecutive YuanBusiness Times
Placeskaohsiung
Topicsbailout measuresSpace restriction orderPeng JinlongZhuo RongtaiFinancial Supervisory Commissioninternational stock market
This article was originally published by 自由时报.

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