TAIPEI: Taiwan stocks rebounded from steep losses in the prior session on hopes the government would soon step in to shore up market confidence after the key index plunged to a near three-year low on Monday.
The main index closed 3.6 percent higher at 7,675.64 points, with techs and banks both jumping more than 3 percent.
Vice Finance Minister Wu Tang-chieh, who is in charge of the National Security Fund, said the fund would buy shares, without giving details.
On Monday, the market hit a near three-year low after concerns about China’s slowing economy sparked a savage global market selloff.
