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Taiwan Bourse May Add To Its Winnings

The Taiwan stock market on Tuesday wrote a finish to the three-day losing streak in which it had surrendered more than 330 points or 3 percent. The Taiwan Stock Exchange now rests just beneath the 10,820-point plateau and it's expected to extend its gains on Wednesday.

The global forecast for the Asian markets is cautiously optimistic thanks to easing concerns about the financial crisis in Turkey. The European markets were down and the U.S. bourses were higher - and the Asian markets figure to follow the latter lead.

The TSE finished modestly higher on Tuesday following gains from the technology, finance and cement stocks.

For the day, the index collected 75.31 points or 0.70 percent to finish at 10,824.23 after trading between 10,755.53 and 10,829.85 on turnover of 135.60 billion Taiwan dollars.

Among the actives, Cathay Financial added 0.38 percent, while Fubon Financial collected 0.40 percent, CTBC Financial jumped 1.92 percent, Mega Financial dipped 0.57 percent, Taiwan Semiconductor Manufacturing Company climbed 1.25 percent, Hon Hai Precision plunged 2.98 percent, MediaTek gathered 0.57 percent, United Microelectronics Corporation gained 0.58 percent, AsusTek Computer dropped 1.96 percent, AU Optronics perked 1.56 percent, Taiwan Cement spiked 2.73 percent, Asia Cement surged 4.75 percent and Largan Precision and Catcher Technology were unchanged.

The lead from Wall Street is upbeat as stocks were higher on Tuesday after heading south in the previous session. The major averages all moved to the upside, with the Dow and the S&P rebounding after closing lower for four consecutive sessions.

The Dow rose 112.22 points or 0.45 percent to 25,299.92, the NASDAQ advanced 51.19 points or 0.65 percent to 7,870.89 and the S&P 500 climbed 18.03 points or 0.64 percent to 2,839.96.

The strength reflected a rebound by Turkey's currency - which continued to recover from a record low after Turkey's central bank pledged to provide liquidity and cut reserve requirements for banks.

In economic news, the Labor Department said import prices were unchanged in July, as a jump in prices for fuel imports offset a drop in non-fuel imports. Meanwhile, export prices fell by 0.5 percent versus expectations for a rise of 0.2 percent.

Crude oil futures failed to hold early gains and settled lower on Tuesday. Crude oil futures for September delivery ended down $0.16 at $67.04 a barrel, after advancing to $68.36 a barrel earlier.

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