Plus   Neg

Taiwan Shares May Bounce Higher Again On Thursday

The Taiwan stock market on Wednesday ended the three-day winning streak in which it had advanced more than 160 points or 1.6 percent. The Taiwan Stock Exchange now rests just above the 10,090-point plateau although it may see a mild rebound on Thursday.

The global forecast for the Asian markets remains upbeat on optimism that another U.S. government shutdown can be avoided. The European and U.S. markets were up and the Asian bourses are predicted to open in similar fashion.

The TSE finished slightly lower on Wednesday as losses from the technology stocks were offset by support from the financial sector.

For the day, the index dipped 7.16 points or 0.07 percent to finish at 10.090.58 after trading between 10,074.34 and 10,140.98.

Among the actives, Cathay Financial added 0.91 percent, while Fubon Financial collected 0.68 percent, CTBC Financial rose 0.24 percent, Taiwan Semiconductor Manufacturing Company shed 0.43 percent, AsusTek Computer skidded 1.52 percent, Largan Precision fell 0.25 percent, Catcher Technology plummeted 4.08 percent, Asia Cement jumped 1.88 percent, Taiwan Cement eased 0.13 percent and United Microelectronics Corporation, Hon Hai Precision, Mega Financial, First Financial and Formosa Plastic all were unchanged.

The lead from Wall Street is positive as stocks saw considerable volatility on Wednesday but still finished in the green as the major averages hit fresh two-month closing highs.

The Dow added 117.51 points or 0.46 percent to 25,543.27, while the NASDAQ gained 5.76 points or 0.08 percent to 7,420.38 and the S&P 500 rose 8.30 points or 0.30 percent to 2,753.03.

The higher close on Wall Street partly reflected optimism about avoiding another government shutdown thanks to a tentative deal reached by lawmakers.

The markets also benefited from continued optimism about U.S.-China trade talks after reports the U.S. may delay raising tariffs on Chinese goods if the two sides are close to a deal.

In economic news, the Labor Department said consumer prices were unchanged for the third straight month in January.

Crude oil extended gains Wednesday, reflecting optimism about U.S.-China trade talks and the cut in production revealed by Saudi Arabia. Crude for March delivery advanced $0.80 to $53.90 a barrel.

For comments and feedback contact: editorial@rttnews.com

Follow RTT