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To: Madharry who wrote (8798)	10/20/2000 1:53:08 AM
From: DJBEINO	Read Replies (2) \| Respond to of 9582

UMC (2303) closed @ 52.00 +3.10 vol 38,719,387 ++++++++++= oct 19 net purchase 9,316m shares +++++++++ TAIWAN WEIGHTED closed @ 5404.78 +323.50 (+6.37%) Day's Range :5241.57 - 5407.06 ++++++++ The government announced new measures to try to stop the heavy declines in the stock market. Finance Minister Yen Ching-chang announced several measures Thursday night that included the following: 1) limiting the floor on stock price declines to 3.5% from the current 7%, 2) allowing foreign investors to invest up to US$1.5bn in stock from the current US$1.2bn limit, and allow any individual investment fund or individual to take a 75% stake in a listed company, up from the current 50%, 3) requiring a 120% deposit requirement on any short margin positions, up from the current 90%, to discourage traders from taking advantage of the declining market, 4) allowing insurance companies to take a 10% stake in a company, up from the current 5%, and allowing them to invest in security trusts and consultation businesses and publicly owned land development projects, which are currently prohibited, 5) allowing securities companies more options in handling margin positions so they don’t necessarily have to liquidate the account, and 6) lower the reserve ratio for the insurance industry. The Ministry of Finance also announced that it might reduce the business tax on asset management firms to zero from the current 2%. This will give asset management firms the same rate that was given to banking firms earlier.