Taiwan stock market hits its biggest drop in history! Zhuo Rongtai ordered the Financial Supervisory Commission to keep a close eye on and adopt flexible measures to stabilize the market.

Executive President Cheuk Wing-tai was interviewed before attending the Legislative Yuan meeting today (6th). (Photo by reporter Chen Yikuan)

[Reporter Chen Zhengyu/Reporting from Taipei] The results of the U.S. midterm election triggered selling pressure on AI concept stocks. Taiwan stocks plunged more than 3,700 points after opening today (6th), setting a record for the largest intraday drop. In this regard, Executive Director Zhuo Yongtai emphasized that he has instructed the Financial Supervisory Commission to pay close attention to changes in international and domestic stock markets and make flexible decisions at any time on how to take relevant measures to stabilize the stock market in the past. Taiwan's economic structure is sound, and various industries have strong profitability and potential. I believe that the Chinese people can have more confidence in the country's economic development and future potential.

The Democratic Party in the United States won control of Congress, and the market was worried that tighter regulations on AI construction would slow down the construction of data centers. The four major U.S. stock indexes all closed in the black on the 5th, with technology stocks falling particularly sharply. Taiwan stocks opened down 2,658.96 points today, opening at 38,915.76 points. The decline continued to expand in early trading, once plunging 3,737.67 points and hitting 37,837.05 points.

The Legislative Yuan will continue to hold general questions on the policy address today. Zhuo Rongtai was interviewed by the media before the meeting and was asked whether the government would step in to protect the market. Zhuo Kui responded that due to the recent impact of the international situation, including the unclear situation in the Middle East, the stock markets of major countries in the world have experienced significant fluctuations. Of course, the same situation has been true in our country in the past few days. The Chinese people are fully aware of the soundness of the country's economic structure, and the profitability and potential of Taiwan's various industries are also quite strong.

Zhuo Rongtai said that the Financial Supervisory Commission has taken relevant response measures when it faced abnormal fluctuations in the stock market. He has instructed the Financial Supervisory Committee this morning to pay close attention to changes in international and domestic stock markets, and to make flexible decisions at any time on how to stabilize the stock market based on past actions, so that the domestic stock market can normalize under the influence of Chinese people's confidence and the relevant stabilization measures of the Financial Supervisory Committee.

"The stock market transactions are decided by the market," Zhuo said. He believes that Taiwan's sound economic structure should allow everyone to have more confidence in the country, economic development and future potential at this time.

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