Stabilization fund to be pulled out of equity market: Cabinet

Focus Taiwan
Date: 2016/04/12
By: Tai Ya-chen and Evelyn Kao

Taipei, April 12 (CNA) The National Financial Stabilization Fund’s (國安基金) current management committee has unanimously approved a move to pull out from the stock market during its last meeting Tuesday before the committee gets new members April 22, Cabinet spokesman Sun Lih-chyun (孫立群) said that day.

The benchmark index of Taiwan’s stock exchange, the Taiex, had risen 15.13 percent, or 1,120.84 points, as of Tuesday, since the stabilization fund was activated Aug. 25, 2015 to prop up the market, making the local bourse the second-best-performing market in the world during the period, behind only the Philadelphia Semiconductor Index, Sun said.

Overall, the Taiex has performed well since the beginning of this year, gaining 2.69 percent, he added.     [FULL  STORY]