Taiwan Stock Market

Major Stock Exchange Introduction

Taiwan Stock Exchange Corporation (TWSE)

Taiwan Stock Exchange Corporation (TWSE) is the organization, which handles the trading market of Taiwan securities of listed companies.

In order to facilitate the diversification of commodities in the Taiwan stock market and provide investors a reasonable hedging platform, put warrants are allowed for listing since January of 2003. The index-based products - Exchange-Traded Funds (ETF), were also launched In 30 June 2003. The call and put warrants with the underlying assets of ETF were also launched in July 2004. In March of 2005, the real estate investment trusts (REIT) were allowed for listing. Currently, the products that are trading in the Taiwan stock exchange are mainly included Stocks, Convertible Bonds, Rights Certificates, Bonds, Call and Put warrants, ETF, Taiwan Depository Receipts and Beneficiary Securities etc.

Major Index Introduction

Weighted TAIEX

Weighted TAIEX is generated by stock index of Taiwan Stock Exchange, regarded as one of the key economy indicators of Taiwan.

In addition to TAIEX, Taiwan Stock Exchange also provides the ETF series, which are compiled with British Financial Times index. They are included Taiwan 50 Index, Taiwan mid-cap 100 Index, Taiwan Information Technology Index, Taiwan Eight Industries Index (TSEC), Taiwan Dividend Index, etc. as the reference for investors.

0050.TW

POLARIS SECS INV TAIWAN TOP50

A Selection of stock exchange market value of stocks ranked 1-50.

0051.TW

POLARIS TAIWAN MID TAIWAN MID-C

A Selection of stock exchange market value of stocks ranked 51-100

0052.TW

FUBON TAIWAN TECHN FUBON IT UNI.

A Selection of the Taiwan stocks, which are classified as the component stocks of electronics industry. They are included the high quality, computer-hardware-based Taiwan listed companies.

0053.TW

POLARIS SECS INV TAIWAN ELECTRO

A Selection of the Taiwan stocks, which are classified as the component stocks of electronics industry. They are included the high quality Taiwan listed companies.

0054.TW

POLARIS SECS INV S&P CUSTOM CN

Specify 50 leading stocks listed in Taiwan, which have stable and profitable investment in the Mainland China.

0055.TW

POLARIS SECS INV P-SHARES MSCI

A selection of finance corporations listed in Taiwan including banks, finance companies, insurance companies and real property companies. Every component must be pass through the regular examination of liquidity.

0056.TW

POLARIS SECS INV P-SHS TW DIVID

An ETF, which uses the forecasted cash dividends as the criteria for stock selection to indicate the future stable and the profitable performance.

0057.TW

FUBON MSCI TAIWAN ETF

Select the companies belonging to the Dow Jones and FTSE within top eight sectors and the top 150 market cap companies.

0058.TW

FUBON TW EIGHTIND FUBON TAIWAN

Select the companies belonging to the Dow Jones and FTSE within top eight sectors and the top 150 market cap companies.

0059.TW

FUBON TW FINANCE E FUBON TAIWAN

Tracking the index of financial and insurance stocks, including financial holding, banking, securities, insurance, bills and other sub-industry stocks. This index represents the overall Taiwan financial shares’ performance.

Account Opening Procedures

Please click here for account open details.

Trading Information

CountryTrading Session(HongKong)Trade CurrencySettlement Currency & DurationEarliest HK time to accept orders for next trade day
*** Only limited services of pre-open, pre-close & after-close auction sessions are provided
Taiwan Monday ~ Friday
Continuous Session
09:00 - 13:30
Odd-lot Trade Session***
13:40 - 14:30
Off-market Trade Session***
14:00 - 14:30
OTC Trading Session***
09:00 - 15:00
NWD NWD
USD
HKD
T + 2
Monday ~ Friday
at 18:00
after previous market close

Commission

Please click here for commission details.

Share Trading Unit

1,000 shares per lot, less than 1 lot will be classified as Odd-Lot.

Odd-Lot Transaction

  • 1,000 shares per lot, less than 1 lot classified as Odd-Lot.
  • Trading hours: from 1:40 pm to 2:30 every trading day.
  • The combined auction prices of Odd-Lot stocks are disclosed within the 5 minutes before closing (14:25PM - 14:30PM)
  • Odd-Lot stocks deal at the combined auction price in 1 time at 14:30.

Volatility restriction on trading priced stock

Volatility refers to the percentage change of return or loss relative to the last closing price. While the trading price increase to the upper limit of volatility restriction, Clients can still make an order but the price will not increase on the same trading day.

While the trading price decrease to the lower limit of volatility restriction, Clients can still make an order but the price will not decrease on the same trading day.

How to calculate the price of a priced security for trading halt?

The stocks are limited to fluctuate 10% of loss or gain from the closing price in last trading day (effective from 1 June 2015, original percentage is 7%). Therefore, the closing price of a stock in last trading day is the basis price. The price for upward trading halt is 110% of the basis price while the price for downward trading halt is 90% of the basis price.

For example,
Suppose the closing price of a stock is TWD 40.55 in last trading day. According to operation regulation No. 63, $40.55 * 110% = TWD 44.60 is the price of upward trading halt. TWD 40.55* 90% = TWD 36.50 is the downward trading halt.

In case of the beneficiary certificates per share between TWD 10 and TWD 50, the unit of change is 5 cents. The requirement that a share meet the upward trading halt will be $44.60 or $44.61, the downward trading halt will beTWD 36.49 or TWD 36.50. If the price is 44.61 or 36.49, it will be over the 10 % volatility criteria. According the description of paragraph above, the upward trading halt price should be TWD 44.60 and the downward trading halt price should be TWD 36.50. Therefore, upward and downward trading halt price are not over the 10 % volatility restriction.

For detail, please refer to Taiwan Stock Exchange’s website -
http://www.twse.com.tw/en/products/trading_rules/mechanism01.php#5

Trading Restriction on Taiwan Securities - based on client's nationality/place of incorporation/registered address.

As an offshore foreign institutional investor (FINI),we have to comply with Taiwan’s “Regulations Governing Investment in Securities by Overseas Chinese and Foreign Nationals” with an aim to prevent funds remitted by us and to be used in trading or investing in Taiwanese securities coming from Taiwan or the People’s Republic of China (PRC).

As a result, we have implemented to reject purchase order under the following circumstances since 27 October 2016.

  1. Nationality (or place of incorporation, for corporate account) of account holder is Taiwan or PRC; or
  2. Registered address of account holder is in Taiwan or PRC; or
  3. For corporate account holder, if we find that the aggregate shareholding by its ultimate individual shareholders whose nationality is Taiwan or PRC exceeds 5%; or
  4. If we find an investor who hold multiple accounts, and any one account meets the conditions above, buy order of the other accounts may be rejected.

If the nationality (or place of incorporation) or registered address of an account holder is Taiwan or PRC, the Taiwan securities trading is affected by the new measure,while sale order remains unaffected.

Depository Information

Please click here for depository steps and related depository bank account information.

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