FSC to decide on share price decline limit

Chen made the announcement after financial officials failed to make a decision on whether to extend the new measure.

“We will continue to monitor the financial situation at home and overseas closely in the next two days before making a decision,” Chen said.

Local shares, which normally are not allowed to rise or fall by more than 7 percent in any trading session, have been limited to declines of 3.5 percent since Oct. 13.

The 7 percent limit-up remains unchanged.

The measure has not prevented local share prices from tumbling along with world markets. The benchmark Taiex index fell 3.3 percent for the week, including 2.27 percent on Friday to close at 4,960.4.

The FSC hinted on Thursday that it might not extend the measure, but felt on Friday that it needed more time to decide because of continuing volatility on world markets.

Subscribe to The China Post and save 25%. Click here

SharePrintEmail

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

Submit

 Receive China Post promos
 Respond to this email