Taiwan Deploys PPT To Prop Up Spooked Markets With Nearly $65 Million In Stock Purchases

The Taiwanese government deployed it’s version of the ‘Plunge Protection Team’ yesterday amid a second day of declines over North Korea – U.S. tensions, according to Taipei’s Economic Daily News.

A total of NT$1.96 billion (US$65 million) shares were purchased on the open market on Wednesday by eight Taiwanese government-run banks.

Despite their efforts to buy the dip, the Taiwanese exchange dropped precipitously into the close. As ZeroHedge reports, Ironically, this reported intervention comes just hours after The US Federal Reserve’s Jim Bullard seemed to hint that The Fed itself had “reluctantly” manipulated equity prices.