logo
Plus   Neg
Share
Email

Tech Shares May Weigh On Taiwan Stock Market

The Taiwan stock market on Thursday wrote a finish to the three-day winning streak in which it had advanced more than 130 points or 1.3 percent. The Taiwan Stock Exchange now rests just beneath the 10,350-point plateau and it may extend its losses on Friday.

The global forecast for the Asian markets is flat with a touch of weakness on global trade concerns. The European markets were slightly higher and the U.S. bourses were mixed and little changed and the Asian markets are expected to follow the latter lead.

The TSE finished slightly lower on Thursday following losses from the financial shares and a mixed performance from the technology stocks.

For the day, the index lost 24.67 points or 0.24 percent to finish at 10,348.65 after trading between 10,339.64 and 10,407.27.

Among the actives, Cathay Financial eased 0.11 percent, while CTBC Financial collected 0.49 percent, Mega Financial shed 0.55 percent, First Financial dipped 0.24 percent, Formosa Plastic lost 0.48 percent, Taiwan Semiconductor Manufacturing Company skidded 1.05 percent, United Microelectronics Corporation fell 0.87 percent, Hon Hai Precision added 0.57 percent, Largan Precision advanced 0.74 percent, AsusTek Computer rose 0.67 percent, Catcher Technology slid 0.44 percent, Taiwan Cement gathered 0.26 percent and Fubon Financial and Asia Cement were unchanged.

The lead from Wall Street offers little clarity as stocks showed a lack or direction on Thursday, bouncing back and forth across the unchanged line before ending the session mixed.

The Dow added 7.05 points or 0.03 percent to 25,709, while the NASDAQ fell 12.50 points or 0.16 percent to 7,630.91 and the S&P 500 lost 2.44 points or 0.09 percent to 2,808.48.

The choppy trading on Wall Street followed uncertainty about Brexit, with members of parliament voting in favor of delaying Brexit after they rejected the idea of leaving the European Union without a deal.

Renewed concerns about a potential trade deal between the U.S. and China weighed on the markets after reports said a meeting between President Donald Trump and Chinese President Xi Jinping has been pushed back.

On the U.S. economic front, the Commerce Department reported a substantial pullback in new home sales in January. A separate report from the Labor Department showed U.S. import and export prices both rose more than anticipated in February.

Crude oil prices edged higher Thursday, extending gains to a fourth successive session, on data that showed a drop in U.S. crude inventories last week. West Texas Intermediate Crude oil futures for April ended up $0.35 or 0.6 percent at $58.61 a barrel, a fresh high since mid-November.

For comments and feedback contact: editorial@rttnews.com

Follow RTT
>