Taiwan bans short selling below previous session prices

Focus Taiwan
Date: 2015/08/23
By: Tsai Yi-chu and Christie Chen

Taipei, Aug. 23 (CNA) The Financial Supervisory Commission (FSC) announced Sunday that it will ban from Monday the short selling of stocks below the closing prices of the previous business day, to stabilize Taiwan’s equity market.

From Monday, investors would not be permitted to short sell borrowed stocks and Taiwan Depositary Receipts below the closing prices of the previous session, the FSC said.

The FSC also encouraged the banking sector to buy back their own company stocks and purchase blue-chip stocks. It also urged listed companies to hold business briefings.