Taiwan has no plans to implement a blanket ban on short-selling for the time being, but it would not rule out taking action in the future, Financial Supervisory Commission (FSC) Chairman Thomas Huang (黃天牧) told a meeting of the legislature’s Finance Committee yesterday.
A short-selling ban on stocks that fell 3.5 percent or more in the previous trading session took effect on Monday — unlike previous bans in 1998, 2008 and 2015, which applied to all stocks.
The commission considers factors such as global market movements, geopolitical tensions and inflationary pressure when making decisions on restricting short-selling, Huang said.
Photo: CNA
“Previously, the 2008 global financial crisis prompted the commission to ban short-selling of all stocks. However, we are facing a different situation this time,” he said.
“We still have other tools” to stabilize the local market, Huang said.
Despite solid fundamentals, Taiwanese equities have fluctuated in recent sessions, affected by central banks’ interest rate hikes, a global market rout, soaring inflation and Washington’s chip regulations, he said.
The latest short-selling ban applied to 152 local stocks on Monday and 93 stocks on Tuesday, including several large-cap stocks such as Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and MediaTek Inc (聯發科).
Yesterday, TSMC shares advanced 1.35 percent to NT$376 and MediaTek rose 2.84 percent to NT$579, Taiwan Stock Exchange data showed.
Foreign investors net sold Taiwanese shares for seven days in a row from Monday last week before buying a net NT$2.76 billion yesterday, Taiwan Stock Exchange data showed.
When an apartment comes up for rent in Germany’s big cities, hundreds of prospective tenants often queue down the street to view it, but the acute shortage of affordable housing is getting scant attention ahead of today’s snap general election. “Housing is one of the main problems for people, but nobody talks about it, nobody takes it seriously,” said Andreas Ibel, president of Build Europe, an association representing housing developers. Migration and the sluggish economy top the list of voters’ concerns, but analysts say housing policy fails to break through as returns on investment take time to register, making the
‘SILVER LINING’: Although the news caused TSMC to fall on the local market, an analyst said that as tariffs are not set to go into effect until April, there is still time for negotiations US President Donald Trump on Tuesday said that he would likely impose tariffs on semiconductor, automobile and pharmaceutical imports of about 25 percent, with an announcement coming as soon as April 2 in a move that would represent a dramatic widening of the US leader’s trade war. “I probably will tell you that on April 2, but it’ll be in the neighborhood of 25 percent,” Trump told reporters at his Mar-a-Lago club when asked about his plan for auto tariffs. Asked about similar levies on pharmaceutical drugs and semiconductors, the president said that “it’ll be 25 percent and higher, and it’ll
CHIP BOOM: Revenue for the semiconductor industry is set to reach US$1 trillion by 2032, opening up opportunities for the chip pacakging and testing company, it said ASE Technology Holding Co (日月光投控), the world’s largest provider of outsourced semiconductor assembly and test (OSAT) services, yesterday launched a new advanced manufacturing facility in Penang, Malaysia, aiming to meet growing demand for emerging technologies such as generative artificial intelligence (AI) applications. The US$300 million facility is a critical step in expanding ASE’s global footprint, offering an alternative for customers from the US, Europe, Japan, South Korea and China to assemble and test chips outside of Taiwan amid efforts to diversify supply chains. The plant, the company’s fifth in Malaysia, is part of a strategic expansion plan that would more than triple
Taiwanese artificial intelligence (AI) server makers are expected to make major investments in Texas in May after US President Donald Trump’s first 100 days in office and amid his rising tariff threats, Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA, 台灣電子電機公會) chairman Richard Lee (李詩欽) said yesterday. The association led a delegation of seven AI server manufacturers to Washington, as well as the US states of California, Texas and New Mexico, to discuss land and tax issues, as Taiwanese firms speed up their production plans in the US with many of them seeing Texas as their top option for investment, Lee said. The
RSS