From the second half of next year, investors would be able to buy shares in quantities of less than 1,000 during regular trading hours, the Financial Supervisory Commission said yesterday.
The commission approved the Taiwan Securities Association’s proposal to implement odd-lot intraday trading, with more than 10 local brokerages expressing their willingness to handle the new service, Securities and Futures Bureau Deputy Director Sam Chang (張振山) told a news conference in Taipei.
Currently, odd-lot trades are only permitted in after-hours trading, with buyers and sellers placing orders from 1:40pm to 2:30pm and the call auction mechanism matching the orders once after 2:30pm, Chang said.
After odd-lot intraday trading is launched next year, buyers and sellers could place their orders from 9am to 1:30pm and the system would begin matching the orders at 9:10am, the same as standard-unit trading, Chang said.
As there would be fewer odd-lot trades, it would take the system 10 minutes to match orders, while it takes five seconds for the call auction mechanism to match standard-unit orders, he said.
The Taiwan Stock Exchange’s (TWSE) continuous trading system that it is to be implemented in March next year would be separate from odd-lot intraday trading, he said.
The commission supports odd-lot intraday trading, as it would make big-ticket stocks more affordable for individual investors, Chang said.
For example, a standard-lot purchase of smartphone camera lens maker Largan Precision Co (大立光) shares would cost more than NT$4 million (US$128,679) based on yesterday’s closing price of NT$4,365, beyond the reach of many individual investors, he said.
Although the volume of after-hours odd-lot trading made up only 0.1 to 0.3 percent of the TWSE’s total volume, the commission expects the number to increase after the system is launched next year, Chang said.
The average daily turnover of after-hours odd-lot trading totaled NT$85 million in 2016, but rose to NT$141 million in 2017 and NT$130 million last year, Chang said, adding that it averaged NT$126 million in the first six months of this year.
Local securities houses would be required to provide a separate transactional interface for odd-lot traders, so retail investors would not confuse the orders with trading in standard units, the commission said.
Odd-lot traders would also be asked to place orders online rather than calling stock brokers by telephone to enhance efficiency, it added.
The TAIEX yesterday rose 5.65 points, or 0.05 percent, to close at 10,941.41 on turnover of NT$132.87 billion, TWSE data showed.
Anna Bhobho, a 31-year-old housewife from rural Zimbabwe, was once a silent observer in her home, excluded from financial and family decisionmaking in the deeply patriarchal society. Today, she is a driver of change in her village, thanks to an electric tricycle she owns. In many parts of rural sub-Saharan Africa, women have long been excluded from mainstream economic activities such as operating public transportation. However, three-wheelers powered by green energy are reversing that trend, offering financial opportunities and a newfound sense of importance. “My husband now looks up to me to take care of a large chunk of expenses,
State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday signed a letter of intent with Alaska Gasline Development Corp (AGDC), expressing an interest to buy liquefied natural gas (LNG) and invest in the latter’s Alaska LNG project, the Ministry of Economic Affairs said in a statement. Under the agreement, CPC is to participate in the project’s upstream gas investment to secure stable energy resources for Taiwan, the ministry said. The Alaska LNG project is jointly promoted by AGDC and major developer Glenfarne Group LLC, as Alaska plans to export up to 20 million tonnes of LNG annually from 2031. It involves constructing an 1,290km
NEXT GENERATION: The company also showcased automated machines, including a nursing robot called Nurabot, which is to enter service at a Taichung hospital this year Hon Hai Precision Industry Co (鴻海精密) expects server revenue to exceed its iPhone revenue within two years, with the possibility of achieving this goal as early as this year, chairman Young Liu (劉揚偉) said on Tuesday at Nvidia Corp’s annual technology conference in San Jose, California. AI would be the primary focus this year for the company, also known as Foxconn Technology Group (富士康科技集團), as rapidly advancing AI applications are driving up demand for AI servers, Liu said. The production and shipment of Nvidia’s GB200 chips and the anticipated launch of GB300 chips in the second half of the year would propel
‘MAKE OR BREAK’: Nvidia shares remain down more than 9 percent, but investors are hoping CEO Jensen Huang’s speech can stave off fears that the sales boom is peaking Shares in Nvidia Corp’s Taiwanese suppliers mostly closed higher yesterday on hopes that the US artificial intelligence (AI) chip designer would showcase next-generation technologies at its annual AI conference slated to open later in the day. The GPU Technology Conference (GTC) in California is to feature developers, engineers, researchers, inventors and information technology professionals, and would focus on AI, computer graphics, data science, machine learning and autonomous machines. The event comes at a make-or-break moment for the firm, as it heads into the next few quarters, with Nvidia CEO Jensen Huang’s (黃仁勳) keynote speech today seen as having the ability to
RSS