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Taiwan Stock Market May Add To Its Winnings

The Taiwan stock market has moved higher in two of three trading days since the end of the three-day slide in which it had stumbled more than 340 points or 3.7 percent. The Taiwan Stock Exchange now rests just beneath the 9,740-point plateau and it's expected to see additional support again on Thursday.

The global forecast for the Asian markets is firm on continued trade optimism and surging crude oil prices. The European and U.S. markets were higher and the Asian bourses are tipped to open in slimier fashion.

The TSE finished sharply higher on Wednesday following gains from the financial shares, technology stocks and cement companies.

For the day, the index soared 174.71 points or 1.83 percent to finish at 9,738.31 after trading between 9,584.63 and 9,741.64 on turnover of 125.89 billion Taiwan dollars.

Among the actives, Taiwan Semiconductor Manufacturing Company climbed 2.13 percent, while United Microelectronics Corporation gained 1.37 percent, Largan Precision soared 6.04 percent, Hon Hai Precision jumped 1.90 percent, AsusTek Computer rose 2.31 percent, Catcher Technology spiked 3.64 percent, AU Optronics was up 2.47 percent, Asia Cement added 1.73 percent, Taiwan Cement advanced 2.25 percent, CTBC Financial climbed 1.50 percent, Cathay Financial gathered 1.77 percent, Mega Financial collected 1.37 percent and Fubon Financial perked 2.95 percent.

The lead from Wall Street is upbeat as stocks fluctuated on Wednesday but still finished higher, extending gains for a fourth consecutive session.

The Dow added 91.67 points or 0.39 percent to 23,879.12, while the NASDAQ gained 60.08 points or 0.87 percent to 6,957.08 and the S&P was up 10.55 points or 0.41 percent to 2,584.96.

The markets continued to benefit from optimism about a potential trade deal between the U.S. and China after talks between U.S. and Chinese officials were extended to a third day. Traders remain hopeful the U.S. and China will reach a long-term agreement before a March 1 deadline.

Stocks remained positive after the minutes of the latest Federal Reserve meeting confirmed Fed Chairman Jerome Powell's recent remarks suggesting the central bank will take a patient approach to further interest rate increases.

Crude oil prices rose sharply Wednesday, extending gains to an eighth straight session amid easing concerns about energy demand. Crude oil futures for February ended up $2.58 or 5.2 percent at $52.36 a barrel.

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