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Gold/Mining/Energy : Gold Price Monitor

GDXJ 145.03

+2.1%

Jan 23 4:00 PM EST

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To: John Hunt who wrote (37238)	7/17/1999 5:35:00 AM
From: John Hunt	Read Replies (1) of 116916

Taiwan bails out bourse amid row with China << Taiwan's government on Saturday marshalled huge state funds to defend the country's stock market from lingering fears over frictions with China, helping the beleaguered index to recover from a steep, early drop. The benchmark TAIEX index fell more than 4.5 percent in a white-knuckled session, but ended with a loss of just 0.61 percent after the Finance Ministry mobilised Taiwan's four top state funds to staunch the week-long sell-off. ''The four funds all agreed to hike their investments in stocks, which is expected to pour an additional T$360 billion (US$11 billion) into the stock market,'' the ministry said. The move to marshal the state pension, labour pension, labour insurance and state postal funds followed Wednesday's pledge to form a T$500 billion market defence fund ... more ... >> biz.yahoo.com

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