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Day trading volumes satisfy high expectations since approval: TWSE

TAIPEI, Taiwan -- Several sessions past the change's one-month anniversary, the Taiwan Stock Exchange (TWSE, 證交所) yesterday announced that since the approval of day trading over a month ago, trading volume in the market has been increasing as expected,

The TWSE stated that trading volume in the local market has been expanding markedly since the introduction of day trading on Jan. 6, with transaction amounts growing by 37 percent since the change while units of 1,000 shares saw a 27 percent growth in the same period.

Investors are no longer exposed to the short-term risks of holding on to equities overnight and may utilize day trading orders without waiting for the next trading session, said the TWSE. The change is aimed at bridging the gap between the local and international markets by offering comparable risk hedging measures by introducing day trading, the TWSE said.

During the one-month period from Jan. 6 to Feb. 6, about 303,898 investors' brokerage accounts were authorized to utilize day trading market orders, of which 4,814 brokerage accounts recorded day trading transactions, according to the TWSE. During this period, the number of shares traded under the day trading mechanism represented 1.07 percent of the entire index. Specifically, transaction amounts for day trading buy orders and day trading sell orders represented 2.51 percent and 2.52 percent of overall market activity respectively. In addition, since the introduction of day trading, instances of infractions for inadequate filings on transaction activities have been on the decline, in line with expectations, the TWSE said.

The TWSE yesterday reiterated that day trading activity statistics are published daily before 6 p.m., following the closing bell. This allows investors to calculate their investment return performance at the end of each session.

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