International Business

Taiwan to Raise Foreign Stock-Purchase Ceiling: Taiwan today will open its stock market wider to foreign institutional investors. It will allow up to 15% of a listed company to be owned by foreign institutional investors, up from 12%, the Ministry of Finance said. A 6% ceiling on ownership of a listed company by a single foreign institutional investor will be raised to 7.5%, the ministry said. The limits apply to direct investment by foreign institutional investors at the Taiwan Stock Exchange and cover purchases of shares by local mutual fund management companies with money raised overseas. Taiwan bans direct investment by foreign individuals.