The Taiwan stock exchange has postponed its initial public offering indefinitely and is no longer exploring a merger with the island's smaller exchanges and clearing institution, according to Schive Chi, its chairman.
This means that a series of reforms initiated by Mr Schive's predecessor have been put on the back burner, including the sale of up to a 25 per cent stake to a foreign exchange.
Taiwan equities have made some of the most spectacular recoveries from last year's doldrums, with the benchmark Taiwan weighted index rising 74 per cent from a year ago on signs that the local economy will benefit from warmer ties with mainland China.
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