September 21, 2008 / 4:18 PM / in 11 years

Taiwan reimposes short-selling ban on 150 stocks

TAIPEI, Sept 21 (Reuters) - Taiwan's top financial regulator said on Sunday it will reimpose a ban on short-selling shares in 150 companies below their closing prices in the previous session, in its latest efforts to prop up the battered Taiwan stock market .TWII.

Investors cannot short stock in 150 companies in the Taiwan 50 Index, the Taiwan Mid-Cap 100 Index and the Taiwan Information Index Sept 22 to Oct 3, the Financial Supervisory Commission said in a statement late on Sunday.

The statement did not identify the shares but market sources told Reuters they include Taiwan Semiconductor Manufacturing Co Ltd (2330.TW) and Cathay Financial Holding Co Ltd (2882.TW).

This move is to “maintain the order and stability of the stock market, to boost investor confidence and to shore up the stock market,” it said.

The government said on Thursday it may use its National Stabilization Fund to help steady the stock market, which dropped more than 10 percent last week to near four-year lows in response to the global financial turmoil before rebounding sharply on Friday. [ID:nTP72589] (Reporting by Faith Hung; Editing by David Cowell)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below