Stock market to close 11 days Jan. 22-Feb. 1

TAIPEI, Taiwan -- The Taiwan Stock Exchange announced yesterday the stock market will close for 11 consecutive days for the traditional Chinese Lunar New Year break from Thursday, Jan. 22 to Sunday, Feb. 1, 2009.

The final trading day for the outgoing Year of Rat on the lunar calendar will be Wednesday, Jan. 21.

The financial market will reopen on Monday, Feb. 2.

The market is set to close two days earlier than the nine consecutive days for the Lunar New Year holidays from Saturday, Jan. 24 to Sunday, Feb. 1 designated for all public offices by the Central Personnel Administration (CPA) and approved by the Executive Yuan (Cabinet).

The two days will allow banks to complete settlements for all securities transactions on Jan. 22-23 ahead of the long break, said TSE executives.

But the stock market and banks will open on Saturday, Jan. 17 to make up the market closure on Friday, Jan. 30 in the readjusted holiday system here.

The market will also open on Saturday, June 6 to make up the closure on Friday, May 29, which was designated as part of the four-day consecutive holidays (Thursday, May 28 to Sunday, May 31) to mark the traditional Dragon Boat Festival.

Taiwan stock market normally close on Saturdays and Sundays.

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