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Technology Stocks : Alliance Semiconductor
ALSC 0.8100.0%Jul 10 5:00 PM EST
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To: DJBEINO who wrote (7097)3/13/2000 11:24:00 PM
From: DJBEINO  Read Replies (1) of 9582
 
UMC closed @ 101.50 +1.50 vol 72,406,851 3rd most active
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march 13 net purchase 5,266m shares
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Taiwan Government Orders State Funds to Buy More Stocks to Stem Declines
By George Hsu

Taiwan Orders State Funds to Buy More Stocks to Stem Declines

Taipei, March 14 (Bloomberg) -- Taiwan's Ministry of Finance
ordered four government pension and insurance funds to buy more
stocks to stem plunging stock prices.

The decision was made at an emergency cabinet meeting this
morning following a 6.6 percent plunge in Taiwan stocks yesterday
on concern the ruling Nationalist Party could lose Saturday's
presidential election, undermining economic policy and relations
with China.
``Four government funds submitted their buy orders before the
market opened,' said finance minister Paul Chiu. ``The market
will soon recover to reflect Taiwan's strong economic outlook.'

The finance ministry also rejected the idea of suspending
stock trading until after the island's March 18 presidential
election.

The market's daily decline limit of 7 percent will not be
changed as yesterday's plunge was caused by ``temporary political
factors,' Chiu said. ``Some investors are worried about the
election.'
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