Taiex rallies on announcement of government support (2011/12/21)
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  • 英文 English 
    Taiex rallies on announcement of government support (2011/12/21)

    Shares on the Taiwan Stock Exchange staged a major rebound today. The Taiex closed up 303 points after climbing more than 230 points on opening. Analysts said many investors returned to the floor after yesterday’s announcement that the government will allow the National Stabilization Fund to support the local bourse.

    The wall of TVs is a blur of red as financial stocks led a strong showing today. More than 20 financial stocks went limit-up causing delight among investors.

    I have more confidence in looking for a buying point to enter the market. In the past, if I heard the words “stock market” I’d be afraid.

    At the close, the weighted index had risen 303 points, or 4.56 percent, to finish at 6,966 points. Many individual investors said they were encouraged by the government’s announcement yesterday that it is willing to allow a government fund to intervene in the market.

    Ma Ying-jeou
    Tomorrow, our economic strategy task force will meet. In addition to looking at using the National Stabilization Fund to enter the stock market, as we did today, it will consider what other measures will allow our economy to return to its former vitality.

    With the presidential election fast-approaching, investors were all-smiles as the Taiex climbed on the backing of the National Stabilization Fund and rises on Wall St overnight. But, after moving above the weighted index’s 10-year moving average today, what the market will do next is likely to depend on the government’s resolve to boost the market.
    中文 Chinese  



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