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Taiwan Shares May Head South On Friday.

The Taiwan stock market on Thursday ended the two-day losing streak in which it had dropped almost 80 points or 0.7 percent. The Taiwan Stock Exchange now rests just above the 10,935-point plateau although it may turn lower again on Friday.

The global forecast for the Asian markets is weak on renewed geopolitical concerns and a drop in crude oil prices. The European and U.S. markets were down and the Asian bourses figure to follow suit.

The TSE finished modestly higher on Thursday following gains from the financials, technology stocks and steel companies.

For the day, the index collected 50.75 points or 0.47 percent to finish at 10,936.93 after trading between 10,883.52 and 10,942.64 on turnover of 126.46 billion Taiwan dollars.

Among the actives, Shinhan Financial collected 0.37 percent, while Fubon Financial picked up 0.38 percent, Mega Financial gathered 0.56 percent, Largan Precision spiked 2.04 percent, Innolux shed 0.43 percent, Taiwan Semiconductor Manufacturing Company added 0.22 percent, Hon Hai Precision gained 0.60 percent, Taiwan Cement jumped 1.47 percent, China Steel gathered 0.22 percent, Taiwan Steel tumbled 2.53 percent and Catcher Technology and United Microelectronics Corporation were unchanged.

The lead from Wall Street is negative as stocks came under early pressure on Thursday; they rebounded slightly in the afternoon but still closed in the red.

The Dow fell 75.05 points or 0.30 percent to 24,811.76, while the NASDAQ eased 1.53 points or 0.02 percent to 7,424.43 and the S&P 500 fell 5.53 points or 0.20 percent to 2,727.76.

The early pullback followed news that President Donald Trump has called off the historic summit with North Korean leader Kim Jong Un. Trump attributed the decision to call off the meeting to North Korea displaying "tremendous anger and open hostility."

In economic news, the Labor Department noted an unexpected increase in initial jobless claims in the week ended May 19. Also, the National Association of Realtors showed a bigger than expected decline in existing home sales in April.

Energy stocks continued to show weakness amid a steep drop by the price of crude oil. Crude for July delivery plunged $1.13 to $70.71 a barrel on concerns OPEC may boost output.

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