Relaxed day trading rules to take effect June 30
Central News Agency
2014-06-17 01:26 PM
Taipei, June 17 (CNA) 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 stocks are constituents of the FTSE TWSE Taiwan 50 Index, the FTSE TWSE Taiwan-Mid-Cap 100 Index, and the GreTai 50 Index. The 200 stocks include Taiwan Semiconductor Manufacturing Co., United Microelectronics Corp., Formosa Plastics Corp., Evergreen Marine Corp., coffee chain operator Gourmet Master Co., and Vanguard International Semiconductor Co. The TWSE said securities companies commissioned by investors to handle intraday short sales must make sure they have sufficient inventories of the stocks to be day-traded to help investors complete their transactions. Day trading of a stock can be completed before the markets close or in after-hours trading, the exchange said. (By Tien Yu-pin and Frances Huang)
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