Day-trading application expanded to 200 local stocks
The China Post news staff
March 27, 2014, 12:01 am TWN
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.