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06.11.26 - 18:30
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Asia′s Bailout Brigade: Taiwan Curbs Shorts, Readies $15BN Fund As Seoul Waives Margin Calls To Stop The AI Rout (ZeroHedge)
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Asia's Bailout Brigade: Taiwan Curbs Shorts, Readies $15BN Fund As Seoul Waives Margin Calls To Stop The AI Rout
It took just a few hours long for the AI unwind to go from a Wall Street problem to an Asian government problem.After the post-midterm "sell everything" day in which the Nasdaq suffered its worst day since Covid and the SOX plunged 12%, Asia opened on Friday into a liquidation: Taiwan's Taiex plunged as much as 9% and entered a bear market, Korea's Kospi crashed as much as 8.8%, tripping a 20-minute market-wide halt and briefly breaking below 5,000, and the Nikkei joined the bear market club with a 6% drop. By the time Europe woke up, both Taipei and Seoul had pulled the emergency brake.In Taiwan, according to Bloomberg, the Financial Supervisory Commission will impose curbs on short selling from Nov. 9, while the Finance Ministry said it is prepared to deploy its NT$500 billion ($15 billion) stock stabilization fund. In Korea, Deputy Prime Minister and Finance Minister...
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06.11.26 - 07:48
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BofA′s Piron Says Won, Taiwan Dollar Offer Opportunity (Bloomberg)
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BofA Global Research Head of Asia FX & Rates Strategy Claudio Piron sees opportunities to go long the Korean won and Taiwan dollar after the AI-driven selloff, arguing that strong current-account surpluses and continued export flows should provide support. He speaks with Haslinda Amin on "Insight with Haslinda Amin." (Source: Bloomberg)...
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