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Taiwan FSC to decide later today whether the 3.5% daily downward limit will remain

 A pedestrian passes a Taiwan stock market monitor outside of a brokerage house as stocks take big hits Thursday, Oct. 23, 2008, in Taipei, Taiwan. Th...

Taiwan Markets

A pedestrian passes a Taiwan stock market monitor outside of a brokerage house as stocks take big hits Thursday, Oct. 23, 2008, in Taipei, Taiwan. Th...

TAIPEI (Taiwan News) - The Taiwan Stock Exchanges (TAIEX) fell 150.89 points, or 3.2 percent, to close at a five-year low of 4,579.62 on Friday in tandem with the continued collapse of world stocks. As part of the government's efforts to stabilize the local bourse, Financial Supervisory Commission (FSC) Chiarman Gordon Chen (陳樹) said that the FSC is expected to announce whether halving the daily downward limit on the stock market to 3.5 percent will remain in effect for another trading week later today.

Recently, the continued lackluster performance of the nation's stock market, attributed to the fall to panic selling by local and foreign investors, has triggered the government's financial officials to decide again on whether to extend the limit-down measure. In other words, the government has been restricting local shares to fall no more than 3.5 percent, compared to the normal trading session of 7 percent, since Oct. 13.

Corporate bodies worry that the new measure may aggravate the continuing volatility of Taiwan stock prices; therefore, they believe that the chance for the government to extend the new measure is low.

by Taiwan News, Editorial Staff


Updated : 2021-04-16 21:51 GMT+08:00