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FSC chair warns of financial uncertainty ahead
Financial Supervisory Commission Chairman Peng Jin-lung is warning that uncertainty related to Donald Trump's return to the White House is expected to become a regular theme, haunting the capital market over the coming year.
Speaking to reporters, Peng said Trump's economic policies are expected to dictate financial markets, while decisions made by the US Federal Reserve will likely impact Taiwan's foreign exchange and stock markets. According to Peng, his office will continue to pay close attention to the conditions of the local capital market, but it will not make any predictions on market performances.
However, the FSC head stressed that he remains "cautiously optimistic" about Taiwan's financial market this year and is urging the local financial industry to be more alert to risks, improve its operations, and eventually return benefits to society, such as by raising employees' wages or increasing benefits for them.
Data shows the local financial sector netted NT$1.02 trillion in combined net profit in the first 11 months of last year. That marked the first time the banking, securities, and insurance industries have recorded a net profit topping the NT$1 trillion mark.
