讀後心得

The United States announced reciprocal tariff measures, triggering market panic, causing global stock markets to plunge. The Taiwanese stock market is expected to face significant selling pressure when it opens tomorrow (the 7th). To stabilize the market, the Financial Supervisory Commission decided to reduce the daily limit for short selling orders from 30% to 3% from April 7 to 11, and to increase the margin requirement for short selling to 130%. The Financial Supervisory Commission will continue to monitor international financial conditions and adjust measures as necessary.

The United States announced reciprocal tariff measures, triggering market fears and shocking global stock markets. Concerns are rising that Taiwan's stock market will face immense selling pressure when it opens tomorrow (April 7). The Financial Supervisory Commission (FSC) announced tonight that, from April 7 to April 11, the daily borrowing of securities for short selling will be reduced from 30% to 3%, and the margin requirement for borrowed securities will be adjusted from 90% to 130%, among other stabilization measures.

The President of the United States proposed reciprocal tariffs against more than 180 countries, significantly impacting stock markets worldwide. The U.S. stock market also closed with a sharp decline on April 4, marking a record of over 1,500 points lost for two consecutive days, with a total market value evaporating around $6 trillion (approximately NT$198.6 trillion). As the Taiwan stock market is closed during the Qingming Festival, there are concerns about tomorrow’s opening.

This morning, the Premier held a meeting at his residence, inviting the FSC chairperson and the board chairman of the stock exchange for analysis, discussing the recent significant declines in the Taiwan stock market, and simulating possible future market scenarios. The press release from the FSC tonight pointed out that the recent U.S. announcement of reciprocal tariff measures has caused significant turbulence in international stock markets. The FSC has continued to monitor international financial conditions and changes in stock markets during the Qingming Festival and is drafting various plans to take necessary actions when needed.

The FSC indicated that due to the prolonged impact of the U.S. reciprocal tariff policy on the sharp declines in stock markets worldwide, along with the Taiwan stock market being closed during the holiday, it could not react simultaneously. The unclear information from the international market will bring multiple significant uncertainties to the stability of Taiwan's capital market. As international trade and tariff issues are quite complex, to maintain stock market stability while safeguarding investors' rights, the FSC announced the following temporary measures from April 7 to April 11:

• Investors, with the agreement of financial securities companies or securities firms, may use other diversified collateral that has market liquidity and can be objectively appraised for valuation to make up the difference in the financing or margin for borrowed securities.
• The daily borrowing limit for short selling orders will be reduced from 30% of the average daily trading volume of that type of security over the previous 30 business days to 3%, except for certain short selling orders needed for hedging purposes, which will not be subject to this restriction.
• The minimum margin requirement for borrowed securities for listed and OTC securities will be adjusted from 90% to 130%.

During this period, the FSC will continue to monitor changes in international financial conditions and the domestic capital market situation and will adjust related stock market stabilization measures as necessary.