Starting next year, Taiwan’s stock market will no longer open on weekend compensatory work days, Financial Supervisory Commission (FSC) Chairman Wellington Koo (顧立雄) said yesterday.
The decision to do away with “makeup Saturdays” was reached after consultations with the Taiwan Securities Association, Koo said, but added that there are still details that need to be ironed out, as banks would remain open on those days, which could result in securities delivery problems.
Speaking to reporters on the sidelines of a capital market forum in Taipei, he said the commission would work with the banking and securities sectors to resolve those technical issues soon.
The decision to abolish working Saturdays for the stock market was in line with international standards, Koo said.
An official announcement on the matter will be made at the end of October, he said.
Under current work regulations, when a holiday is extended by adding an extra day, a Saturday is usually designated as a compensatory work day.
However, as most foreign institutional investors have weekends off, trading is usually slow on the makeup Saturdays.
On March 31, the most recent makeup Saturday, turnover totaled only NT$76.78 billion (US$2.51 billion), well below the daily average of NT$123.98 billion for that month, Taiwan Stock Exchange data showed.
The Directorate-General of Personnel Administration on Monday released next year’s workday calendar, which has six extended public holidays.
‘NO SECURITY RISK’: The Railway Bureau reassured the public that the technicians’ activities were limited to technical guidance and did not involve sensitive systems The Railway Bureau yesterday said it had invited eight Chinese technicians to assist with an airport MRT construction project. The bureau issued the confirmation after an Internet user said Chinese nationals had entered the construction zone of Taiwan Taoyuan International Airport’s Terminal 3 project. They asked why “individuals from an enemy state” were allowed access to such a major national infrastructure project, which raised serious concerns over Taiwan’s industrial safety, sensitive systems and information security. The bureau’s Northern Region Engineering Branch Office said subcontractor Taiwan Handle Industrial Co (台灣手把工業) of the Taoyuan airport MRT’s “Contract No. CU05 Project A14 Station Civil, MEP &
The National Chungshan Institute of Science and Technology yesterday showcased its locally developed variants of the Vision 60 robotic patrol dog, which it plans to deploy on the nation’s outlying territories in the South China Sea. The variants were produced under the Joint Lab project — created by the institute and domestic companies — and assembled with domestically produced motors, lenses and artificial intelligence (AI) systems alongside licensed tech from the US, Missile and Rocket Systems Research Division deputy director Jen Kuo-kang (任國光) told the media event at a military base in Taipei’s Dazhi (大直) area. Taiwan has built up its strengths
NOT IMMEDIATE: Taiwan has a chance to appeal the proposed 10 percent tariff before it starts, while other countries face a 12.5 percent tariff from the trade office Taiwan is among 60 economies determined by the US to have failed to impose or enforce a ban on the importation of goods produced with forced labor, according to a notice released on Tuesday by the Office of the US Trade Representative (USTR), which proposed imposing an additional 10 percent or more tariff on them. The USTR in a statement said that following an investigation, it had determined under Section 301 of the Trade Act of 1974 that the failure of the 60 economies to impose and effectively enforce a prohibition on the importation of goods produced with forced labor is
TIT-FOR-TAT: The US allegedly revoked the visa of a Chinese national working at Xinhua News Agency in the US in response to Beijing’s expulsion of Vivian Wang The Presidential Office yesterday condemned China for expelling a New York Times correspondent from Beijing following the newspaper’s interview with President William Lai (賴清德), saying the move highlighted Beijing’s suppression of press freedom and its threat to international news media. Taiwan has noted a series of recent incidents in which Beijing used similar tactics to “threaten and pressure international media outlets and journalists,” Presidential Office spokeswoman Karen Kuo (郭雅慧) said in a statement. “This concerns not only press freedom and freedom of expression, but also the safety of journalists, and Taiwan and relevant partners are paying close attention to the situation,” she
RSS