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Taiwan Bourse May Extend Wednesday's Gains

The Taiwan stock market on Wednesday halted the two-day slide in which it had fallen more than 80 points or 0.8 percent. The Taiwan Stock Exchange now rests just beneath the 9,910-point plateau and it may add to its winnings on Thursday.

The global forecast is positive following the U.S. midterm elections. The European and U.S. markets were solidly higher and the Asian bourses are expected to follow suit.

The TSE finished modestly higher on Wednesday following gains from the cement stocks and financial shares, while the technology companies were mixed.

For the day, the index climbed 83.40 points or 0.85 percent to finish at 9,908.35 after trading between 9,817.95 and 9,912.53 on turnover of 116.29 billion Taiwan dollars.

Among the actives, HTC surged 9.91 percent, while Taiwan Semiconductor Manufacturing Company dipped 0.21 percent, United Microelectronics Corporation was up 0.46 percent, Largan Precision climbed 1.86 percent, Hon Hai Precision added 0.78 percent, AsusTek Computer lost 0.64 percent, AU Optronics gathered 1.26 percent, First Financial gained 0.76 percent, Fubon Financial accelerated 1.00 percent, CTBC Financial jumped 1.20 percent, Mega Financial collected 0.95 percent, Cathay Financial advanced 1.42 percent, Taiwan Cement perked 1.14 percent, Asia Cement soared 4.01 percent, Formosa Plastic slid 0.49 percent and China Steel gathered 0.62 percent.

The lead from Wall Street is solid as stocks showed a significant move to the upside on Wednesday, adding to the gains posted in the previous session.

The Dow added 545.29 points or 2.13 percent to 26,180.30, while the NASDAQ jumped 194.79 points or 2.64 percent to 7,570.75 and the S&P gained 58.44 points or 2.12 percent to 2,813.89.

The rally on Wall Street came as the results of the highly anticipated midterm elections on Tuesday came largely in line with expectations.

Democrats are projected to retake control of the House for the first time since 2010 - which will give them subpoena power, potentially leading to numerous investigations of President Donald Trump's administration.

Democrats did not fare as well as in the Senate, as Republicans appear poised to expand their majority in the upper chamber.

Crude oil prices tumbled on Wednesday after data showed a seventh straight weekly rise in U.S. crude inventories. Crude oil futures for December were down $0.54 or 0.9 percent at $61.67 a barrel, the lowest settlement price in nearly eight months.

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