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Taiwan Bourse: Resistance Expected At 11,000 Points

The Taiwan stock market has finished higher in three straight sessions, gathering more than 150 points or 1.3 percent along the way. The Taiwan Stock Exchange now rests just above the 10,970-point plateau although it may spin its wheels on Thursday.

The global forecast for the Asian markets is soft as geopolitical concerns may offer investors an excuse to lock in gains following recent strength. The European and U.S. markets were down, and the Asian markets are expected to follow suit.

The TSE finished modestly higher on Wednesday following gains from the financial shares and the technology stocks.

For the day, the index advanced 46.84 points or 0.43 percent to finish at 10,974.02 after trading between 10,953.31 and 11,016.35.

Among the actives, Taiwan Semiconductor Manufacturing Company climbed 1.02 percent, while United Microelectronics Corporation picked up 0.65 percent, Largan Precision shed 0.62 percent, Hon Hai Precision added 0.34 percent, Cathay Financial collected 0.57 percent, Mega Financial lost 0.58 percent and \Fubon Financial was unchanged.

The lead from Wall Street is negative as stocks moved lower on Wednesday following the rally in the previous session.

The Dow slid 218.55 points or 0.90 percent to 24,189.45, while the NASDAQ lost 25.27 points or 0.36 percent to 7,069.03 and the S&P 500 fell 14.68 points or 0.55 percent to 2,642.19.

The weakness came amid geopolitical concerns after President Donald Trump warned Russia "get ready" for missiles being launched at Syria.

In economic news, the Labor Department noted a modest decrease in consumer prices in March. Core CPI inched higher, in line with forecasts.

Later in the day, the Federal Reserve released the minutes of its latest monetary policy meeting, which showed members of the central bank discussed the need to slow down the economy.

Crude oil prices continued to rally Wednesday, hitting three-year highs despite confirmation that U.S. stockpiles are brimming. Tensions in the Middle East have boosted oil prices this week. WTI light sweet oil surged $1.31 or 2 percent to settle at $66.82/bbl - the highest since 2014.

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