Financial Supervisory Commission (FSC) Chairman William Tseng (曾銘宗) on Saturday said that, starting in January, Taiwan might allow Chinese retail investors to buy shares in the local bourse in a bid to boost the trading volume of the stock exchange.
The commission has been consulting other government agencies, taking into account a suggestion by local stock brokerages to lift a ban on Chinese retail investors, Tseng said.
He said a decision might be made by January to allow Chinese retail investors to put funds into the local equity market.
Earlier this year, Tseng said in a meeting of the legislature’s Finance Committee that the government aimed to lift the ban on Chinese retail investments by the third quarter.
However, Tseng said more time was needed to prepare for the change since it involved not just financial considerations, but also a wide range of regulations governing cross-strait exchanges and other support measures.
If Chinese retail investors are allowed into Taiwan’s equity market, they would bring an estimated NT$18 billion (US$548.53 million) in funds, according to estimates by local brokerages.
On Friday, turnover on the Taiwan Stock Exchange fell to NT$66.74 billion, the lowest so far this year, and the TAIEX closed down 1.02 percent after a sell-off mainly of large-cap stocks.
Tseng said the turnover was low largely because many foreign institutional investors were away from the market on the US Thanksgiving Day holiday.
In recent sessions, the trading volume has been thin, which was expected, as Tseng had said earlier that interest in trading would be low ahead of the US Federal Reserve’s upcoming policymaking meeting next month.
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