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Stocks

Authority considers allowing wider stock market movement

TAIPEI -- Taiwan is considering loosening its limit on daily stock price fluctuations, a senior government official said Monday.

     Financial Supervisory Commission Chairman William Tseng's statement came as Taiwanese officials have been trying to attract foreign institutional investors to buy local equities and boost the trading volume of the Taiwan stock market.

     Local media has reported the limit may go up from the current 7% to 10%, but Tseng told the Nikkei Asian Review that the cap is still under review. Local news outlets have suggested a higher limit could be implemented as early as the second half of 2015.

     Tseng told the local press Monday that Taiwan's 7% limit seems strict when compared to the 10% in China, 15% in South Korea and the lack of limits in Singapore and Hong Kong.

     Tseng posted on his Facebook page on Sunday that the government is welcoming suggestions from the general public on how to boost the local bourse.

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