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Taiwan Stock Exchange (TWSE) will lead a delegation to London tomorrow to promote Taiwan’s recently announced market reforms. Mr. Michael Lin, President of TWSE, will meet representatives of financial think-tanks and global investors to provide an update on developments currently taking place on the Taiwan capital market, Taiwan’s open investment policy and its intention to move further in line with international practice. Through this visit, TWSE hopes to attract more international investment in Taiwan equities and boost the Taiwan capital market.
TWSE will also be a guest speaker at London Stock Exchange’s Asia Capital Markets Day, where it will speak about Asian companies going global and how Taiwan equity investments compare favorably with other Asian equities. TWSE will also present new market reforms unveiled on 3 September by Taiwan’s Financial Supervisory Commission. These reforms include: increasing the number of borrowed stocks eligible for margin trading and able to be sold at a price lower than the closing price of the previous trading day; further open up the same-day trading of stocks; and allowing, within a trial period, Taiwan proprietary traders to trade securities at the seven-percent daily limit.
TWSE will also meet with Deputy Chief Executive of FTSE Group, Mr. Donald Keith, to introduce recent changes in the areas of off-exchange transactions and securities borrowing and lending, as well as to enhance international investors’ understanding of Taiwan’s revised trading mechanism. TWSE will also reaffirm its policy of balancing market stability with market openness.
Also joining the delegation is Dr. Chi Schive, Taiwan Minister without Portfolio and Mr. Hsien-Nung Kuei, Director General of the Banking Bureau, under the Financial Supervisory Commission, who will take part in a seminar on “Taiwan becoming a new RMB offshore centre’ organized by Chatham House, an important British financial think-tank.
The officials will also meet with Ms. Fiona Woolf, Lord Mayor of the City of London, to share views on developing offshore renminbi centres and to enhance the UK financial community’s understanding of the Taiwan capital market and its latest financial policies.
Mr. Michael Lin, President of TWSE said, “In the first 10 months of the year, the MSCI Emerging Market Index fell 4.82%, while the Taiwan Stock Exchange Weighted Index rose 8.25%. Average daily turnover was US$2.55 billion during the same period, suggesting a revival of investor confidence towards Taiwan equities. Through this visit, we aim to expand our outreach to international investors and stimulate foreign investment in the Taiwan capital market and Taiwan companies, adhering to our vision of ‘circulating securities and prospering the economy.’”
