The 38 percent fall in the TAIEX since President Chen Shui-bian (
According to The Journalist (
In all, the senior government officials have racked up an estimated NT$116 million in stock losses since May, according to the magazine.
The biggest loser was Minister of Economic Affairs Lin Hsin-yi (
The second-biggest loser was Minister of Foreign Affairs Tien Hung-mao (
Third on the list was President Chen Shui-bian (
But The Journalist's report also found that assets held by the first family have grown nearly NT$70 million since December 1997, when Chen was the mayor of Taipei.
Chen owns three houses worth NT$29 million; deposit accounts worth NT$13 million; NT$38 million in government bonds; an estimated NT$25 million in stock shares; and NT$14 million in other funds.
In all, Chen and his family are worth roughly NT$120 million.
The Journalist based its numbers on figures garnered from a soon-to-be published Control Yuan report, which requires government officials to declare their financial holdings.
In addition to Lin, another financial official who appears to have lost big in the market is Perng Fai-nan (
Other economic and financial ministers also had stock market loses, though not as severe. Chen Po-chih (
Lin Chuan (
In comparison, Premier Chang Chun-hsiung (張俊雄) was lucky. Chang had an estimated NT$20,452 in losses, according to the magazine.
In addition to highlighting the stock market losses of government officials, The Journalist provided details of their favorite holdings.
Taiwan Semiconductor Manufacturing Co (台積電), United Microelectronics Corp (聯電), Chinatrust Commercial Bank (中信銀), Cathy Construction (國建), Nanya Technology (南亞), and Chinfon Commercial Bank (慶豐商銀) were all owned by at least three government officials.
Some government officials have avoided the stock market altogether. They include Vice Premier Lai In-jaw (
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