Taiwanese Stocks Fall Due to Ukraine War 俄烏衝突重挫全球股市 台股近日狂跌千點

With panic sentiment dominating global stock market due to the Russia-Ukraine conflict, eyes are on whether and how Taiwan government will intervene. Huang Tien-mu, chairperson of the Financial Supervisory Commission, said that while short-term fluctuations are inevitable, Taiwan's fundamentals remain solid in the long run. 


Lai Shyh-bao, Legislator (KMT): “May I ask you, Chairman, is this a stock market disaster? ”
Huang Tien-mu, Chairperson, FSC: “I think it is indeed a shock, a very big shock.”

Taiwan stocks have fallen by thousands of points in the past three days. Some legislators believe that it can almost be regarded as a "stock crash." However, on the 9th, Taiwanese stocks fell and rebounded, rising more than 200 points during the session, reaching an intraday peak of 17,071 points. It closed above the 17,000 level. As of 10:30 a.m., trading volume exceeded NT$160 billion.

Lai Shyh-bao, Legislator (KMT): “The Bank of Taiwan bought more than NT$10 billion yesterday. The day before yesterday, they also bought more than NT$10 billion. The government is already protecting the market.”
Juan Ching-hwa, Deputy Minister of Finance: “ Each government-owned bank has its own operation team that can judge itself.”

Juan, a trader with the National Financial Stabilization Fund and Deputy Finance Minister stressed that he had not received any instructions to support the market. However, if there is an irrational decline in Taiwan stocks, it is not ruled out that an extraordinary meeting will be held to stabilize the stock market as soon as possible. Recently, Taiwanese stocks have become an ATM for foreign investors, being oversold for five consecutive days, at a cumulative amount of NT$198.2 billion. However, domestic mutual funds were net buyers in March, but its cumulative amount was only NT$20.9 billion. Huang Tien-mu, the chairperson of the Financial Supervisory Commission, spoke with confidence, emphasizing that Taiwan's stock fundamentals are good.

Huang Tien-mu, Chairperson, Financial Supervisory Commission: “Funding momentum is strong. The stock market is still based on fundamentals. Of course, short-term volatility is inevitable.”

According to FSC statistics, the amount of domestic financial institutions' risk exposure to the Ukraine war exceeds NT$200 billion. The life insurance industry has the largest exposure amount of NT$138.2 billion, which is invested mainly in Russian bonds. However, this only accounts for 0.46 percent of the domestic insurance industry's funds, which has little impact. In addition, the investment amount from domestic banks and mutual funds is not large.

Wu Ping-jui, Legislator (DPP): “So how do you calculate the value of Russian government bonds there were already bought? ”
Huang Tien-mu, Chairperson, FSC: “They have to adjust according to accounting standards to show this loss. These Russian sovereign bonds met investment criteria before the war. Their investment allocation is not high.”
 
But some legislators pointed out that although the domestic financial industry has little impact, some small and medium-sized domestic enterprises that export tool machines to Russia have seen a significant impact. The Ministry of Finance said that if there is a cash flow problem, loan interest extensions will be provided. 

 

 

 

國民黨立委賴士葆質詢時向黃天牧詢問,此次是否為股災,黃天牧則回應,「我認為的確是一個震盪,一個非常大的震盪」。

台股近期3天,累計下跌上千點。有立委認為幾乎可以認定是股災。不過9日台股跌深反彈,盤中漲超過200點,最高一度來到1萬7071點,收復萬七關卡,截至上午10時半,交易量超過1600億。

賴士葆表示:「台灣銀行昨天就買了超過一百億,前天也超過一百億元,政府已經在護盤了。」

阮清華認為:「泛公股每個都有他的操作團隊,自行會判斷。」

阮清華強調,並未收到護盤指示。但台股如果出現非理性下跌,不排除召開臨時會,儘速讓股市穩定下來。而近期台股成了外資提款機,已連續5天賣超,金額累積達1982億,不過投信3月都是買超,但累計買超只有209億。黃天牧信心喊話,強調台股基本面良好。

黃天牧認為:「國內的資金動能是很強的,股市基本上還是看基本面,當然短期之內的波動是難免的。」

至於俄烏衝突持續擴大,金管會統計,國內金融機構曝險金額超過2000億,其中以保險業金額最多,有達1382億都是投資在俄羅斯,主要以債券為主, 但強調只佔國內保險業資金的0.46%,影響不大,另外銀行、投信投資金額佔比也不大。

民進黨立委吳秉叡質疑:「(之前買俄羅斯)國債的話,現在怎麼計算價值?」

對此黃天牧表示:「要依照財會準則去調整,把損失呈現出來,這些俄羅斯的國債,其信評在戰爭前都是合乎投資標的規範,比例也不高。」

不過有立委指出,雖然國內金融業影響不大,但部份中小企業出口工具機到俄羅斯,資金規模約1到2成,影響不小,財政部表示,如果出現資金周轉問題,會提供貸款利息展延。

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