讀後心得

The United States announced reciprocal tariff measures that triggered market panic, causing fluctuations in global stock markets. The market is concerned that Taiwan's stock market will face significant selling pressure when it opens on April 7. The Financial Supervisory Commission decided to lower the daily limit on borrowing securities to sell for the period from April 7 to 11, and to raise the margin requirement for short selling from 90% to 130%, among other measures, to stabilize the market. The United States' tariff policy has led to a significant decline in global stock markets, prompting Taiwan to respond and continuously monitor market dynamics.

The United States announced reciprocal tariff measures, which triggered panic in the market and shocked global stock markets. There are concerns that Taiwan's stock market may face massive selling pressure when it opens tomorrow (the 7th). This evening, the Financial Supervisory Commission (FSC) announced that from April 7 to April 11, the daily borrow-and-sell order quantity will be reduced from 30% to 3%, and the margin ratio for short selling will be raised from 90% to 130%, in order to stabilize the market.

U.S. President Trump's reciprocal tariff policy against over 180 countries has led to heavy declines in multiple countries' stock markets, with the U.S. stock market experiencing a consecutive decline of over 1500 points on April 4, resulting in approximately 6 trillion USD in evaporated market value. Due to the Qingming Festival holiday, Taiwan's stock market is closed, and there are general concerns that it may face significant selling pressure when trading resumes tomorrow.

The Premier held a meeting this morning, inviting the Chairman of the Financial Supervisory Commission and the Chairman of the Stock Exchange, among other relevant persons, to analyze the recent decline of Taiwan's stock market and simulate potential future market situations. A press release issued by the FSC in the evening indicated that the recent U.S. reciprocal tariff measures have caused violent fluctuations in international stock markets. The FSC has been continuously monitoring international financial conditions and stock market changes during the holiday and is preparing various response plans to take necessary measures promptly.

The FSC emphasized that due to the impact of the U.S. reciprocal tariff policy, stock markets in various countries have experienced significant declines, and the Taiwan stock market has been unable to react promptly during the holiday, coupled with unclear information from international markets, which may pose major uncertainties for the stability of Taiwan's capital market.

According to the latest decision, the FSC will implement the following temporary measures from April 7 to April 11:

• Investors, after obtaining the consent of securities finance institutions or securities firms, may use other collateral that is objectively assessable and has good market liquidity to make up the differences in financing down payments or short selling margins.
• The daily borrow-and-sell order quantity will be reduced from the previous limit of 30% of the average trading volume for the past 30 business days to 3%. However, securities firms can be exempt from this restriction due to hedging needs.
• The minimum margin ratio for short selling of listed and over-the-counter securities will be adjusted from 90% to 130%.

During this period, the FSC will continue to closely monitor international financial conditions as well as the domestic capital market situation, and will adjust relevant stabilization measures in due course.