Relaxed day trading rules set to take effect June 30
June 18, 2014, 12:00 am TWN
TAIPEI--A further relaxation of rules on day trading in Taiwan's stock market will take effect as planned on June 30, according to the Taiwan Stock Exchange (TWSE).
Under the rules, investors in the market will be allowed to sell a stock and then buy it back on the same day in a bid to fuel investor interest and boost market turnover.
The Financial Supervisory Commission (FSC), the top financial regulator in Taiwan, announced the new day trading rule in late March after the FSC gave a green light on Jan. 6 to buying and then selling a stock on the same day.
The new rule will apply to any of 200 selected stocks on the Taiwan Stock Exchange and over-the counter market.
The 200 stocks include Taiwan Semiconductor Manufacturing Co. (台積電), United Microelectronics Corp. (聯電), Formosa Plastics Corp. (台塑), Evergreen Marine Corp. (長榮海運), coffee chain operator Gourmet Master Co., and Vanguard International Semiconductor Co. (世界先進).