讀後心得

The tariff war initiated by Trump has impacted global stock markets, and Taiwan is also facing a 32% reciprocal tariff, raising concerns that the Taiwan stock market will suffer a significant decline when it opens on the 7th. The Financial Supervisory Commission announced three temporary measures to be implemented from April 7 to 11 to respond to market volatility and protect investor rights. These measures include allowing the use of other collateral for financing replenishment, reducing the daily borrow-to-sell order quantity, and increasing the margin ratio for short selling. The Financial Supervisory Commission will continue to monitor international and domestic market conditions and adjust relevant measures as necessary to maintain market stability.

The tariff war triggered by Trump has impacted global stock markets, with Taiwan also facing a 32% equivalent tariff, causing deep concerns over the possible heavy drop of Taiwan's stock market at the opening on the 7th. The Financial Supervisory Commission announced today (the 6th) that it will implement three temporary measures from April 7 to April 11.

The Financial Supervisory Commission pointed out that the recent announcement of equivalent tariffs by the United States has led to significant fluctuations in international stock markets. Even during the Qingming holiday period, the Commission continued to monitor international financial conditions and stock market changes, and is developing various plans to take necessary measures in a timely manner.

Due to the U.S. equivalent tariff policy causing sharp declines in stock markets of various countries and the Taiwanese stock market not being able to respond in sync during the holiday, coupled with the fact that information from international markets is not yet fully clarified, this will create many uncertain variables for Taiwan's capital market. The Financial Supervisory Commission emphasized that the issues of international trade and tariff collection are complex. In light of many unclear pieces of information, in order to maintain market stability and consider the rights of investors, the following temporary measures will be adopted from April 7, 2025, to April 11, 2025:

• Investors may, with the approval of securities finance companies or securities firms, use other diverse collateral that has market liquidity and can be objectively and reasonably valued to make up the difference in financing margin or margin for short selling.
• The daily limit for borrowing securities for short selling will be reduced from 30% of the average transaction volume over the past 30 business days to 3%, but securities firms may remain unrestricted due to hedging needs, such as issuing warrants, equity-linked securities, or acting as market makers for stock options or stock futures.
• The minimum margin for short selling of listed and over-the-counter securities will be adjusted from 90% to 130%.

During the aforementioned period, the Financial Supervisory Commission will continue to monitor international financial situations and domestic capital market conditions, and will timely adjust relevant stock market stabilization measures.

Further reading: Taiwan's stock market faces the tariff tsunami from Trump today, the national team prepares 160 billion in funding to combat it; Taiwan's stock market shaken! Zhuo Rongtai meets with the Financial Supervisory Commission for a "residence meeting" to conduct simulations, will a short-selling ban be implemented? The Financial Supervisory Commission stated that it will closely observe market changes.