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TAIPEI- Taiwan’s Finance Ministry has called state-owned banks to suggest they buy an “appropriate” amount of stocks amid falls on the island’s stock market, five people familiar with the matter told Reuters on Thursday.
Asian stocks slumped to their lowest levels of the year and the dollar hit fresh highs on Thursday as a double-whammy of worries about global growth and an end to central bank support drove nervous investors toward safety.
Taiwan’s benchmark index led the broad selling in Asia and closed 2.7 percent lower at a three-month trough. While the index rose 1 percent on Wednesday, it had fallen for the previous nine straight sessions. – Reuters
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