The fund earned around NT$25 billion in selling off NT$62 billion in shares on the local stock market between March 1 and April 9.

The NSF began buying shares in September 2008 at the outset of the global financial crisis to help stabilize local markets, eventually buying NT$59.9 billion in shares.

The quarterly meeting, which will be the first chaired by Vice Premier Sean Chen in his capacity as director of the NSF, is expected to review the government-backed fund’s performance in the first half of the year.

Deputy Finance Minister Tseng Ming-chung said last month that the NSF has only limited holdings in domestic bourses, and that the fund will continue to sell its holdings as long as it does not disrupt local equity markets.

Local media quoted one financial official as saying that the fund now holds only NT$2 billion in shares after a prolonged sell-off in recent months.

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