Finance Minister Su Jain-rong says that the National Financial Stabilization Fund has been authorized to intervene in Taiwan’s financial markets if necessary.
The fund’s management committee authorized a stabilization fund of NT$500 billion (US$17 billion) Thursday after several days of turmoil on international stock markets due to the COVID-19 pandemic.
Su says the committee will observe the state of the financial market and decide on when to inject the funds. He said there is no specific quantitative standard or profit-making goal for an intervention. Instead, Su said the main goal is to stabilize the stock market.