The Minister of Finance will scrap its 3.5 percent downward volatility limit on the TAIEX, and revert to the 7 percent limit at the start of trade today.
"The daily downward limit on share prices will be changed back to 7 percent, effective Monday," Minister of Finance Yen Chin-chang (
The move follows criticism that stock trading had contracted following a decision to halve the lower limit.
Yen said that the finance ministry decided to revert back to the normal limit because "the impact of both the US terrorist attacks and the recent typhoon on the stock market was not significant."
Yen met with officials from the Securities and Futures Commission before making the decision yesterday.
The finance ministry said last week that it was halving the daily limit on share price declines to 3.5 percent. The move was to be in effect from Sept. 19 to 28 in an effort to stave off any negative effects on stocks in anticipation of US military action against terrorist strongholds in the Middle East.
Following the implementation of emergency measures, turnover quickly shrank to NT$26.1 billion (US$755 million) on Wednesday and fell further to NT$13 billion (US$376 million) on Friday, down from NT$47.75 billion the previous Friday.
Executives from securities companies said that after narrowing the lower limit on share movement, liquidity in the market was seriously affected, with hundreds of shares failing to find buyers.
"In order to maintain market liquidity and respect the market mechanism, the ministry has decided to cancel the measure ahead of schedule," Yen said.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last