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Taiwan Shares Expected To Ride Tech Surge

The Taiwan stock market wrote a finish to the two-day winning streak in which it had advanced almost 65 points or 0.6 percent. The Taiwan Stock Exchange now rests just beneath the 10,930-point plateau and it's predicted to erase those losses on Friday.

The global forecast for the Asian markets is upbeat, with bargain hunting expected amid a rebound in crude oil prices. The European markets were down and the U.S. bourses were up - and the Asian markets figure to follow the latter lead.

The TSE finished sharply lower on Thursday following losses from the financials, technology stocks and steel companies, among others.

For the day, the index tumbled 168.36 points or 1.52 percent to finish at 10,929.77 after trading between 10,919.13 and 11,095.67 on turnover of 140.39 billion Taiwan dollars.

Among the actives, Catcher Technology plummeted 5.08 percent, while Taiwan Semiconductor Manufacturing Company skidded 1.41 percent, United Microelectronics fell 0.57 percent, MediaTek tumbled 2.18 percent, Hon Hai Precision retreated 1.55 percent, AsusTek Computer advanced 0.56 percent, Largan Precision shed 0.89 percent, CTBC Financial dropped 1.66 percent, Mega Financial eased 0.36 percent, Cathay Financial lost 0.95 percent, First Financial was down 0.48 percent, Fubon Financial declined 1.57 percent, Taiwan Steel plunged 2.12 percent, China Steel gave away 1.20 percent and Chunghwa Telecom lost 0.47 percent.

The lead from Wall Street is mostly higher as an historic milestone for Apple (AAPL) fueled a huge advance by the tech-heavy NASDAQ on Thursday - although renewed trade war concerns weighed on the Dow.

The Dow fell 7.66 points or 0.03 percent to 25,326.16, while the NASDAQ jumped 95.40 points or 1.24 percent to 7,802.69 and the S&P 500 climbed 13.86 points or 0.49 percent to 2,827.22.

The rally by the NASDAQ came amid a continued surge from Apple, which became the first U.S. company to reach a $1 trillion market capitalization as traders continued to react positively to its upbeat fiscal third quarter results and guidance.

On the other hand, trade concerns weighed on some Dow components after President Donald Trump's administration confirmed reports it is considering raising the rate of tariffs on Chinese imports - and China has promised to retaliate.

Traders also looked ahead to the closely watched monthly jobs report from the Labor Department's later today. Employment is expected to increase by 190,000 jobs in July, while the unemployment rate is expected to edge down to 3.9 percent.

Crude oil prices moved higher on Thursday, after suffering losses in the past two sessions amid concerns over excess supply in the market. Crude oil futures for September settled at $68.96 a barrel on the New York Mercantile Exchange, gaining $1.30 or 1.9 percent for the session.

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