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Taiwan Stock Market May Extend Winning Streak

The Taiwan stock market has finished higher in three straight sessions, advancing more than 160 points or 1.6 percent along the way. The Taiwan Stock Exchange now rests just beneath the 10,100-point plateau and it may see additional support again on Wednesday.

The global forecast for the Asian markets is upbeat on signs the United States government may avoid another shutdown. The European and U.S. markets were up and the Asian bourses are predicted to follow that lead.

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

For the day, the index climbed 93.49 points or 0.93 percent to finish at 10,097.74 after trading between 10,032.08 and 10,100.23.

Among the actives, Cathay Financial added 0.80 percent, while Fubon Financial collected 0.34 percent, CTBC Financial rose 0.49 percent, Mega Financial gained 0.57 percent, First Financial advanced 0.98 percent, Formosa Plastic climbed 1.50 percent, Taiwan Semiconductor Manufacturing Company perked 0.88 percent, United Microelectronics Corporation spiked 2.30 percent, Largan Precision gathered 0.63 percent, Hon Hai Precision soared 3.00 percent, AsusTek Computer was up 0.66 percent, MediaTek fell 0.77 percent, Catcher Technology jumped 2.73 percent, Asia Cement accelerated 2.33 percent and Taiwan Cement picked up 0.13 percent.

The lead from Wall Street is broadly positive as stocks moved sharply higher on Tuesday, hitting their best closing levels in two months.

The Dow climbed 372.65 points or 1.49 percent to 25,425,76, the NASDAQ jumped 106.71 points or 1.46 percent to 7,414.62 and the S&P 500 added 34.93 points or 1.29 percent to 2,744.73.

The rally on Wall Street came amid optimism lawmakers will avoid another government shutdown after negotiators reached a tentative agreement on border security. Lawmakers face a deadline of midnight Friday to pass a spending bill and avoid another government shutdown.

Optimism about this week's next round of U.S.-China trade talks also contributed to the strength on Wall Street as President Donald Trump may defer his deadline for raising tariffs.

Crude oil prices surged higher Tuesday on hopes OPEC-led production cuts and the U.S. sanctions on Iran and Venezuela will tighten crude supply in the global market. West Texas Intermediate Crude oil futures for March ended up $0.69 or 1.3 percent at $53.10 a barrel.

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