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Taiwan Stock Market May Extend Winning Streak

The Taiwan stock market has finished higher in four straight sessions, advancing more than 350 points or 3.6 percent along the way. The Taiwan Stock Exchange now rests just above the 9,840-point plateau and it may add to its winnings on Friday.

The global forecast for the Asian markets remains positive on optimism that the trade war between the United States and China will soon come to an end. The European and U.S. markets were up and the Asian bourses figure to follow suit.

The TSE finished modestly higher on Thursday following mixed performances from the steel and technology stocks, while the financials were down.

For the day, the index advanced 42.61 points or 0.43 percent to finish at 9,844.74 after trading between 9,742.61 and 9,869.59 on turnover of 127.53 billion Taiwan dollars.

Among the actives, Taiwan Semiconductor Manufacturing Company added 0.64 percent, while United Microelectronics Corporation climbed 1.27 percent, Hon Hai Precision jumped 1.40 percent, AsusTek Computer spiked 3.49 percent, Largan Precision shed 0.45 percent, MediaTek dropped 1.76 percent, Catcher Technology tumbled 2.73 percent, Chunghwa Telecom plunged 2.28 percent, Cathay Financial lost 0.51 percent, Mega Financial dropped 1.15 percent, CTBC Financial skidded 1.45 percent, Fubon Financial dipped 0.31 percent, First Financial slid 0.77 percent, Taiwan Steel Union added 0.47 percent and China Steel declined 1.43 percent.

The lead from Wall Street continues to be firm as stocks shook off a lackluster open on Thursday to finish sharply higher, extending recent gains.

The Dow added 264.98 points or 1.06 percent to 25,380.74, while the NASDAQ jumped 128.16 points or 1.75 percent to 7,434.06 and the S&P gained 28.63 points or 1.06 percent to 2,740.37.

The continued strength on Wall Street came after President Donald Trump said he had a "very good" conversation with Chinese President Xi Jinping about trade. That follows recent reports the U.S. will impose tariffs on all remaining Chinese imports if the talks at the G20 summit fail to ease the trade war.

In economic news, the Labor Department reported a slight drop in first-time claims for U.S. jobless benefits in the week ended October 27. The Labor Department also noted a slowdown in labor productivity growth in Q3, while the Institute for Supply Management noted a bigger than expected slowdown in manufacturing activity in October.

Crude oil prices drifted lower for a fourth straight session on Thursday, on concerns of oversupply and fading demand. Crude futures for December were down $1.62, or 2.5 percent at 63.69 a barrel, the lowest settlement in nearly seven months.

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