TAIWAN

Foreign Stock Investors Approved: The Taiwan government has given final approval to applications by Morgan Guaranty Trust of New York and United Overseas Bank of Singapore to invest in the stock market, the Securities and Exchange Commission said. Morgan will be allowed to invest $50 million in local stocks, and United Overseas has approval to purchase $15 million, the SEC said. Taiwan opened its stock market to direct investment by foreign financial institutions in late 1990. To date, 39 institutions have been allowed to invest $1.75 billion, according to the SEC. Central Bank and SEC approval are required. A formal notice will be delivered to the companies in the next few days, an SEC official said.