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 Shearson Lehman Hutton Inc. said 
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it applied to Taiwanese securities officials for permission 
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to open brokerage offices in Taipei.
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 Shearson's application is the first 
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since the Taiwan Securities and Exchange Commission announced June 21 
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that it would allow foreign brokerage firms to do business in that country.
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 Taiwan officials are expected to review the Shearson application later this year.
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 Under current rules, investors in Taiwan can buy overseas stocks only through the purchase of mutual funds 
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issued by local and foreign investment trusts.
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 The new rules will allow investors to buy foreign stocks directly.
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 A spokesman for Shearson said 
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the brokerage service will be directed at individual investors 
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who want to buy foreign and domestic stocks.
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 It's an attractive market with good growth opportunities, 
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he added.
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