Breaking News, World News and Taiwan News.

Day-trading application expanded to 200 local stocks

TAIPEI, Taiwan -- The Financial Supervisory Commission's (FSC) chief on Wednesday announced further relaxation of day-trading to 200 tranches of Taiwan stocks, adding that the new measure will take effect in late June.

Taiwan shares closed up 47.97 points, or 0.55 percent, at 8,737.27 yesterday on turnover of NT$92.66 billion, while the U.S. dollar fell against the New Taiwan dollar, losing NT$0.014 to close at NT$30.605. Turnover totaled US$723 million during the trading session.

The greenback opened at the day's high of NT$30.620, and moved to a low of NT$30.502 before rebounding.

FSC Chairman Tseng Ming-chung (曾銘宗) yesterday said in a routine news conference that it will further relax day-trading rules to allow short selling of stocks on the same day.

The new measure, which follows the introduction of day-trading — buying and then selling a stock on the same day — in early January, is expected to take effect at the end of June, Tseng said.

The Central News Agency (CNA) reported that under the new trading rule that is designed to boost daily turnover, investors will be allowed to first sell any of 200 selected stocks on the Taiwan Stock Exchange and the over-the-counter market and then buy them back on the same day.

The 200 stocks are constituents of the FTSE TWSE Taiwan 50 Index, the FTSE TWSE Taiwan-Mid-Cap 100 Index, and the GreTai 50 Index.

Write a Comment
CAPTCHA Code Image
Type in image code
Change the code
 Receive China Post promos
 Respond to this email
 Taiwan regulator to relax 26 financial rules by late June 
Financial Supervisory Commission Chairman Tseng Ming-chung (曾銘宗) presides over a news conference at the commission's headquarters in Taipei, yesterday. As expected, Tseng announced further relaxation of day-trading, a method which allows investors to buy and sell certain stocks on the same day.

(CNA)

Enlarge Photo

WSJA
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Listings  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   Terms of Use  |   Sitemap
  chinapost search