National Financial Stabilization Fund Enters Stock Market 國安基金今進場 台股開盤收復萬四

After the National Financial Stabilization Fund announced its entry to support the stock market on July 12, the Taiwan stock's performance morale boosted greatly on July 13, opening back at the 14,000 point mark, up 244 points. At one point, it went up to 14,386, up over 400 points, though amidst substantial long and short battles. Nevertheless, people are skeptical as to the timing of the Fund's entry. Deputy finance minister, also serving as the National Financial Stabilization Fund's Executive Secretary, Juan Ching-hwa, explained the reasons for the fund's entry.

Taiwan stock opened back up at over 14,000 points, all because on the night of July 12, the Ministry of Finance made an official statement that the National Financial Stabilization Fund would enter to support the stock market. Encouraged by the news, on July 13 Taiwan stock shot up to 14,194 at the opening, up 244 points. At 10:30 a.m., it went up to 14,386, up by 436 points.

Li Fang-kuo, Chairperson, President Securities Corporation: “The National Financial Stabilization Fund basically not only provided confidence but also bullets. So Taiwan stock dropping further is quite limited, and this market should gradually rise.”

Taiwan Semiconductor Manufacturing Co.'s weighted stock price immediately went back in the red. TSMC opened up NT$470. During the day, the stock price continued to rise, at one point up over NT$472, increasing by NT$23. Electronics and financial stocks continue to push up Taiwan stock. When asked whether the timing for the National Financial Stabilization Fund to enter was too early, Juan Ching-hwa, Deputy Minister of the Ministry of Finance, also the Executive Secretary of the National Financial Stabilization Fund, emphasized that Taiwan stock has already dropped 3,393 points in the first half of the year, resulting in a 23 percent drop range. In addition, up to now, foreign investments have already sold over NT$900 billion, whereas the Taiwan stock market value has evaporated NT$10.1 trillion. In July alone Taiwan stock dropped over 300 points and in three days, the market is immersed in a panic-selling atmosphere. Thus this is the perfect timing for the National Financial Stabilization Fund to enter the market.

Juan Ching-hwa, Executive Secretary, National Financial Stabilization Fund: “Yesterday (July 12) was a panic market, with a dropping range higher than nearby countries and shrinking volume. The panic atmosphere is accumulating already so if we do not handle it now it will be even more difficult to deal with later.”

Juan emphasized that he will continue to observe the index changes, especially trading volume. If the market continues to drop and shrink, the NT$500 billion funds will enter to support the market and prevent Taiwan stock from further plummeting.  

台股一開盤就衝破萬四，因為12日晚間，財政部發布聲明稿，國安基金宣布進場護盤。13日台股受到激勵，開盤衝上1萬4194點，漲244點。截至上午10點半，盤中最高衝上1萬4386點，一度大漲436點。

統一證券董事長黎方國說：「國安基金基本上是...不只是提供了這個信心，它也提供了子彈。（台股）再下跌的空間很有限，這個行情應該會慢慢逐步墊高。」

護國神山，權指股台積電股價立刻翻紅，開盤就漲至470塊，盤中股價繼續衝，最高一度漲到472元，大漲23元。電子、金融滿面紅光，持續推升台股。不過，外界質疑國安基金進場時機太早，而且一日髮夾彎。財政部次長，同時也是國安基金操盤手阮清華強調，今年上半年台股，累計已跌3393點，跌幅超過23%，而且今年至今，外資累計賣超已超過9000億，台股市值已蒸發10.1兆。光7月台股跌超過300點，就有3天，市場瀰漫著恐慌性賣壓氛圍，強調國安基金這時候進場正是時候。

國安基金執行秘書阮清華說明：「像昨天（7/12）來講是一個恐慌的盤，（跌幅）比其他的鄰近國家都要高，那成交量也都萎縮了，恐慌的氣氛已經在累積了，不趕快處理的話將來會更難處理。」

阮清華強調，會持續觀察大盤指數變化，尤其交易量。若持續下探萎縮，5000億銀彈就會進場撐起大盤，不會讓台股崩跌。