SUPPORTING ROLE:The deputy finance minister said the fund would stay in the market until its management committee meets on April 15, unless financial conditions improve
Date: Jan 19, 2016
By: Crystal Hsu / Staff reporter
The National Stabilization Fund (NSF, 國安基金) is to be used to extend support for local shares for another quarter, a decision that yesterday helped the TAIEX to close up 0.63 percent after Saturday’s elections and Wall Street’s slump on Friday.
The National Stabilization Fund Committee reached the decision after meeting in Taipei for one-and-a-half hours, based on lingering international uncertainties, such as the drastic financial market volatility, oil price swings, China’s economic slowdown and possible further interest rate hikes by the US Federal Reserve, Deputy Minister of Finance Wu Tang-chieh (吳當傑) said.
“The fund will continue to shore up local shares until its next meeting on April 15, but may pull out beforehand, if the financial situation at home and abroad shows steady signs of improvement,” Wu told reporters at noon. [FULL STORY]