The magnet effect of price limits: evidence from high-frequency data on Taiwan Stock Exchange

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Emerging Markets Finance (2003, background): “Cho et al. (2003) use the Taiwanese market, with its unique price limits, to test the well-known magnet effect.”
Daily price limits and destructive market behavior (2019, background): “The prior studies have also documented the so-called "magnet effect"—a curious tendency for stock prices to accelerate toward the upper price limit and a similar, albeit weaker tendency, toward the lower limit as prices approach these limits (e.g., Cho et al., 2003; Hsieh et al., 2009).”
Ratio-based lengths of intervals to improve fuzzy time series forecasting (2006, background): “The Tokyo Stock Exchange imposes daily price limits of 20% (on average) [5] and the Taiwan Stock Exchange similar limits of 7% [5], [6], [9].”