# Taiwan futures this morning



## Pager (30 April 2009)

Opened about 10% higher than yesterdays close  thats the equivelant of the Spi opening over 300 points higher.

Anyone know why ?

Happily I'm short from the open which was 229.2 and its currently about 225, but never seen a move to the upside by this much before.

Does make me a bit nervous about the open of the Hang Seng futures though, could be explosive


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## Pager (30 April 2009)

Stopped out for a loss 

Unbelievable, this market is up over 12% know, currently around 233.

Arhhhhhhhh


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## Pager (30 April 2009)

The Chinese are investing in Taiwan as relations improve, heres a link

http://www.bloomberg.com/apps/news?pid=20601080&sid=a9x_j8JUhYeg&refer=asia

The May futures contract that trades on the SGX has been as high as 239, that would be the equivelent of the Spi going up over 500 points from yesterdays close 

The futures are running at a big premium so i guess the market must be expecting more upside, its very very volitile as well, i was stopped out with hefty slippage, not a good day as i went within a tick of my first profit target before someone let this rocket fly .


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## alphaman (30 April 2009)

That's a monster move. 

The Taiwan Stock Market is capped at 7% up/down per day, so maybe that explains the poremium.


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## Pager (30 April 2009)

alphaman said:


> That's a monster move.
> 
> The Taiwan Stock Market is capped at 7% up/down per day, so maybe that explains the poremium.




Thanks 

i never realised there was a limit on the cash market, explains why the futures have been so strong, was wondering why when the futures opened at 229.2 nothing happened for a minute or so, maybe the futures were locked limit up for the first minute of trade, and i thought i had a problem with my data feed 

The SGX futures do lock limit up/down if theres a sudden big % move but then resume trading after a pause but thought it was 5 mins ?, got caught in December when the Nikkei got locked limit down and i was long 

Still the futures is factoring in the cash being about 12 big points higher when it does resume tomorrow


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