Taipei - The Taiwan Stock Exchange Corp will change its initials from TSEC to TWSE starting next week to avoid being confused with several foreign bourses that have the same initials, a newspaper reported Thursday.

The website of the Taiwan Stock Exchange Corp will also be changed on Monday to www. twse. com. tw, but the current web address will continue to function for six months, the Taipei Times said.

TWSE decided to make the change because TSEC is often mistaken for the Tokyo Stock Exchange, the Stock Exchange of Thailand, the Toronto Stock Exchange or the Tel Aviv Stock Exchange, whose initials are also TSEC.

"Using TSEC will hamper the company's efforts in promoting its globalization," the paper quoted an unnamed TWSE official as saying. (dpa)