Taiwan Stocks Plunge Below 40,000 Points
Taiwan stocks faced heavy selling pressure on the 6th, once plunging 3737.67 points intraday, setting a record for the largest intraday drop in history, and closed down 1873.08 points at 39701.64 points, falling below the 40,000-point mark. Market panic spread and investor confidence was clearly shaken.
Buying Against the Trend 0050 Up to NT$200 Million
Facing the sharp volatility, Moore Investment Advisory Chief Investment Officer Kuo Che-jung chose to add positions against the trend. He revealed on Threads that he is optimistic about the outlook for Taiwan stocks and went all in, adding another NT$50 million on top of the NT$150 million already invested in Yuanta Taiwan 50 (0050), bringing his cumulative investment to NT$200 million including the previous two purchases. He stressed that he used funds from a home-equity credit line and is aware of the risk he is taking, while urging ordinary investors not to blindly follow suit with borrowed money.
Three-Word Reply Refutes Fleeing Rumor
Unexpectedly, a rumor appeared on Threads, with a user claiming Kuo Che-jung had taken the money and fled, further alleging that 0050 trading data had been erased, bankruptcy was a foregone conclusion, investors' money would all become getaway funds, and that your money will never be withdrawn. After the post tagged Kuo Che-jung's account seeking confirmation, Kuo himself replied below with the three words Is that funny, directly shattering the fleeing rumor and sparking heated discussion.
Bows and Apologizes on Livestream but Still Bullish on Outlook
Many netizens left messages in support, saying it was laughable to claim money used to buy 0050 would end up in Zhe-zhe's pocket, that they would rather believe he will give away chicken steaks than believe he would flee, with some saying the money invested in 0050 is only the tip of the iceberg of his wealth. On a YouTube livestream on the 6th, Kuo opened by bowing with his staff, admitting he was sorry to everyone for not selling at the top, and reminded viewers not to enter the market with borrowed money. He remains bullish on the outlook, saying the market is currently around the 37,000-point level, chanting 37,000 now, 57,000 next year, and predicting that with the National Stabilization Fund entering the market and a sharp drop in margin financing, there is still a chance to challenge 50,000 points before year-end.