Minister of Finance Yen Ching-chang (顏慶章) yesterday denied speculation that officials in charge of the operation of the National Stabilization Fund (國安基金) had leaked secret information causing huge losses to the fund.
"I can firmly state here that it is impossible that officials of the fund would have leaked the secret information," Yen said yesterday during a meeting of the Finance Committee at the Legislative Yuan.
His announcement, however, came just as the Taiwan High Court's Black Gold Investigation Center filed the case for criminal investigation.
While it is still unclear what part of the story of illegal trading is fact and which is fiction, the growing concern over possible illegal trading began last Thursday after the TAIEX plummeted by 282 points.
It was then that Chinese language media reported that unnamed investors had carried out irregular dumping of certain stocks.
On Sunday most major local newspapers took that story one step further, speculating that information regarding the investment strategy of the National Stabilization Fund had been leaked to brokers, reports said.
During yesterday's meeting Yen did say that the MOF's Securities and Futures Commission (SFC) had started an investigation into the accusations, but he added the results of the probe would not be known until two days later.
The officiating prosecutor at the Black Gold Investigation Center said he was still waiting for the SFC to hand over materials and it was still too early to say who he might interview in connection with the accusations.
"We are still trying to figure out whether there really was any insider trading and are yet to identify any suspects," Shih Liang-po (施良波), a spokesman for the center said.
The Ministry of Transportation and Communications yesterday inaugurated the Danjiang Bridge across the Tamsui River in New Taipei City, saying that the structure would be an architectural icon and traffic artery for Taiwan. Feted as a major engineering achievement, the Danjiang Bridge is 920m long, 211m tall at the top of its pylon, and is the longest single-pylon asymmetric cable-stayed bridge in the world, the government’s Web site for the structure said. It was designed by late Iraqi-British architect Zaha Hadid. The structure, with a maximum deck of 70m, accommodates road and light rail traffic, and affords a 200m navigation channel for boats,
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