By: Chiu Po-sheng and Frances Huang
Taipei, Oct. 15 (CNA) The National Financial Stabilization Fund made a profit of about NT$1.2 billion (US$37.85 million) after disposing of shares it bought in the local equity market during its intervention from August 2015 to April 2016, according to statistics released by the Ministry of Finance (MOF).
During the intervention, the fund spent NT$19.658 billion buying shares in a bid to counteract negative impacts on the equity market, the data showed.
By Sept. 21, 2016, the stabilization fund had sold the shares it bought in 29 large-cap stocks from Aug. 25, 2015 to April 12, 2016. The net profit of NT$1.21 billion represented a 6.16 percent return on its investment.
The NT$500 billion stabilization fund was set up by the government to serve as a buffer against unexpected external factors disrupting the local bourse. [FULL STORY]