Has the Taiwan government found the delicate balance of market intervention that is more right and less wrong
The Taiwan government said this morning that it would use its NT$500 billion $16.5 billion National Stabilization Fund to shield its markets in anticipation of aftershocks from NasdaqÆs record falls last week.
The quake came. And the TWSE today closed 1.4% higher,áquite remarkable when one considers major indexes in the region crashed big time.
Whatever the academic argument against market intervention, the practice is gaining momentum. Following todayÆs 7% fall in the Nikkei, the Japanese government also is contemplating a 1 trillion yen $9.45 billion rescue fund to prop up the market. Protests...