| Title： |
Detailed Numerical Standards and Exceptions to the Irregularity Standards in Article 4 of the Taiwan Stock Exchange Corporation's Directions for Announcement or Notice of Attention to Trading Information and Related Dispositions(2009.03.20) |
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5
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5. An irregularity in the cumulative percentage of increase or decrease in the closing price for the particular security in the preceding period, combined with intraday trading of the given security at the given securities firm in which confirmed purchases or sales that account for an unusually high percentage of the intraday volume of trade in the given security, is defined as follows:
When the particular security meets both of the following conditions on the given day:
(1) The cumulative percentage of increase or decrease in the closing price of a security for the preceding six business days (inclusive of the sixth) is greater than 25%, and differs with the average values for both the market as a whole and for same-sector stocks, as calculated in accordance with this subparagraph, by 20% or more.
(2) The volume of confirmed purchases or sales in intraday trading of the given security at a securities firm accounts for more than 25% of the total volume of confirmed transactions in the given security (for securities firms with branch offices, each branch office may be allowed an extra 1% volume, providing that the aggregate total for branch offices may not exceed 35%), while also reaching a volume of 500 trading units or more.
Exceptions:
(1) The percentages of increase or decrease in the closing prices of newly-listed common stocks for which there is a period of no restrictions on price fluctuations shall not be included in the calculations for the standards under this paragraph.
(2) The standards under this paragraph shall not apply to government bonds, ordinary corporate bonds, convertible corporate bonds, corporate bonds with warrants, preferred stocks with warrants, foreign-issued bonds, and bond conversion entitlement certificates.
(3) When fluctuations in the price of a security occur during the period for which standards are calculated due to non trade-related factors (such as ex-rights or ex-dividend factors), those factors shall be excluded when calculating the percentage of increase or decrease in the closing price.
(4) The provisions of this paragraph regarding same-sector stocks shall not apply when there are fewer than ten stocks in the given sector.
(5) The provisions of this paragraph regarding same-sector stocks shall not apply when a stock has a negative price-to-earnings ratio or is trading at 80 times earnings or above.
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