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Taiwan Authorities Allow Investment By Hedge Funds

by Phillip Morton, Investors Offshore.com

23 January 2004

Taiwan’s Securities and Future Commission announced last week the lifting of a ban on hedge funds from investing in the nation’s stock market.

Initially, the SFC has given its blessing for two hedge funds to invest in the TAIEX.

Welcoming the announcement, Taiwan's investment community see the move as a major step in the liberalisation of the nation's capital markets, and expect many other hedge funds to follow suit.

"The scrapping of the ban will certainly will be a plus for Taiwan's stock markets, as overseas investors will increase their pace of investment in local stocks, bonds, futures, derivatives, or currencies," observed Wu Pei-wei, a fund manager at ABN-AMRO Asset Management Taiwan Ltd, according to the Taipei Times.

However, Chinese investors are to remain barred from investing on the bourse, the SFC stated.

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