The Taiwan stock market on Wednesday ended the two-day losing streak in which it had plummeted almost 200 points or 2.6 percent en route to an 11-week closing low. The Taiwan Stock Exchange finished just above the 7,600-point plateau, although now traders figure to lock in gains when the market kicks off trade on Thursday.
The global forecast for the Asian markets suggests mild selling pressure as investors figure to take profits after hefty gains in the previous session, while some uninspired earnings news from Intel and IBM also may weigh on investors. Adding to the cautious sentiment, Spain's bad loans reached an 18-year high in February, the Bank of Spain said. About 8.16 percent of loans held by banks in February were non-performing, the highest since October 1994. The European and U.S. markets finished lower, and the Asian bourses are tipped to follow that lead.
The TSE finished slightly higher on Wednesday following gains from the plastic, cement, food, textile and technology sectors.
For the day, the index gathered 19.13 points or 0.25 percent to finish at 7,605.00 after trading between 7,590.98 and 7,683.95 on turnover of 79.11 billion Taiwan dollars.
Among the actives, Largan Precision added 2.0 percent, while Unity Opto Technology climbed 1.20 percent, Everlight Electronics jumped 2.73 percent and Hon Hai Precision shed 1.82 percent.
Wall Street offers a negative lead as stocks moved moderately lower on Wednesday, giving back some ground after ending the previous session sharply higher. Lingering concerns about the financial situation in Europe may also have led to the profit taking despite Tuesday's successful Spanish bond auction.
Soft earnings news also contributed to the weakness, with shares of Intel (INTC) falling by 1.8 percent after the semiconductor giant reported its first quarter results. Intel reported first quarter earnings that exceeded estimates on revenues that came in line with expectations. However, the company also provided disappointing gross margin guidance.
Shares of IBM (IBM) also ended the day in the red after the tech giant reported better than expected than first quarter earnings but on weaker than expected sales.
Meanwhile, internet media giant Yahoo (YHOO) moved to the upside on the day after reporting first quarter earnings and revenues that exceeded analyst estimates.
The major averages saw some volatility in late-day trading but all finished the day in the red. The Dow fell 82.79 points or 0.6 percent to finish at 13,032.75, while the NASDAQ dipped 11.37 points or 0.4 percent to end at 3,031.45 and the S&P 500 slid 5.64 points or 0.4 percent to 1,385.14.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.