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Taiwan Shares May Extend Thursday's Gains

The Taiwan stock market has finished higher in two of three trading days since the end of the four-day losing streak in which it had tumbled almost 300 points or 2.7 percent. The Taiwan Stock Exchange now rests just above the 10,725-point plateau and it's looking at another green light for Friday.

The global forecast for the Asian markets suggests mild upside with optimism over trade tempered by falling oil prices. The European markets were mixed and flat and the U.S. bourses were up - and the Asian markets figure to follow the latter lead.

The TSE finished slightly higher on Thursday following gains from the steel and financial shares, while the technology stocks were mostly in the red.

For the day, the index added 4.66 points or 0.04 percent to finish at 10,727.23 after trading between 10,701.25 and 10,758.84 on turnover of 113.34 billion Taiwan dollars.

Among the actives, Fubon Financial added 0.40 percent, while Mega Financial collected 0.38 percent, Chunghwa Telecom shed 0.45 percent, Taiwan Steel Union soared 1.89 percent, China Steel picked up 0.62 percent, Formosa Plastic advanced 1.35 percent, United Microelectronics climbed 1.30 percent, AsusTek Computer dropped 2.33 percent, Taiwan Semiconductor Manufacturing Company tumbled 2.11 percent, Hon Hai Precision skidded 1.29 percent, Largan Precision retreated 2.38 percent and AU Optronics, Cathay Financial and CTBC Financial were unchanged.

The lead from Wall Street is firm as stocks moved mostly higher on Thursday, with the major averages all finishing in positive territory after ending Wednesday's session mixed.

The Dow added 147.07 points or 0.57 percent to 26,145.99, while the NASDAQ gained 59.48 points or 0.75 percent to 8,013.71 and the S&P was up 15.26 points or 0.53 percent to 2,904.18.

The strength on Wall Street reflected optimism about trade following recent reports the U.S. is proposing a new round of trade talks with China in the near future.

In economic news, the Labor Department said consumer prices rose less than expected in August. The Labor Department also noted a slight drop in initial jobless claims in the week ended September 8.

Crude oil prices tumbled Thursday following reports that global oil supply reached a record high in August. Crude oil futures for October ended down $1.78 or 2.5 percent at $68.59 a barrel on the New York Mercantile Exchange.

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