The government may eventually phase out a rule that prevents locally traded stocks to rise or fall more than 7 percent per day, in a bid to conform with international stock-trading practices, the nation's financial regulator said yesterday.
\n"The 7 percent daily limit has to go eventually," Financial Supervisory Commission Chairman Kong Jaw-sheng (龔照勝) told a year-end press conference yesterday.
\nKong did not give an exact timetable for when the daily limit might be lifted, but said that the commission will temporarily suspend the limit for newly listed companies during the first five trading days after March 1.
\n"We'll see how the trial run goes before considering measures to permanently shelve the limit," he said.
\nThe commission yesterday also announced that it is mulling supporting measures and mechanisms that would facilitate the Taiwan Stock Exchange Corp's (TSE) plan to further relax restrictions on stock trading, which was announced on Thursday.
\nThe TSE said it plans to relax trading restrictions in the next six months and to scrap a ban on shares being sold at prices lower than their latest closing price.
\nBut Wu Tang-chieh (
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in
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