Jun 29, 2008

Taiwan cabinet plans to prop up stock market

UnHuh.. get with that Neocon program, Ma, and start using the public funds to make sure the Wealthy Elite of Taiwan stay fat and happy FIRST and prop up your admin's performance rating at the same time. yes the " Free" Markets always need that Publicly SPONSORED PROZAC shot under modern ' conservative' regimes. it's the secret ingredient.

Published: Reuters - Monday, Jun 30, 2008

Taiwan announces stock market stimulus package

TAIPEI (Reuters) - Taiwan's cabinet will take steps to prop up the ailing stock market, including encouraging insurance companies to invest more of their T$8 trillion ($263 billion) in assets in the market, local media reported on Sunday.

Newspapers detailed the steps in their Sunday editions following a late Saturday meeting where the cabinet discussed ways to shore up the market , which tumbled 3.4 percent on Friday to a five-month closing low.

Other steps the cabinet will take include encouraging major government funds to invest more in the market.

The drop in Taiwan's stock market has been part of a broad global selloff, but it has been particularly acute amid a flight of foreign money.

In the month of June alone, foreign funds have taken a net T$115 billion out of the Taiwan stock market, the biggest outflow for a single month since last November

Ping over to TaiwanMutters to glean the yam-isle's further debaucheries. ( hits might wake them up also , as they seem to haven fallen asleep just as their vigilance is most needed.).