TAIPEI (Taiwan News) — Taiwan is paying close attention to market conditions and will take "effective countermeasures" if problems persist, Deputy Finance Minister Frank Juan told Reuters on Monday after another large fall in share prices.

Taiwan's fundamentals are still very good, but the National Stabilization Fund will closely watch the impact of the global economy's possible slowdown, said Juan, who manages the fund.

The U.S. dollar rose once more against the Taiwan dollar Monday. This came on top of another fall in share prices.

Juan told reporters the National Stabilization Fund would be used if necessary. The fund can buy and sell stocks to maintain stability.

The main share index (.TWII) has lost more than 24% so far this year. It closed 2.4% down on Monday, per a Reuters report.

Meanwhile, CNA and Bloomberg reports Monday (Sept. 26) pointed out the Taiwan dollar had depreciated to its weakest level in more than five years. The currency fell 0.6% to 31.86 per dollar, the lowest since 2017.

The reason given was constant equity outflows and a surging U.S. dollar, plus the troubles with China that have flared up in recent months.