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Taiwan Bourse Likely To Remain Rangebound On Wednesday

The Taiwan stock market gave up less than a point on Tuesday, but that was enough to end the two-day winning streak in which it had gathered more than 160 points or 1.6 percent. The Taiwan Stock Exchange remains just above the 10,510-point plateau and it may spin its wheels again on Wednesday.

The global forecast for the Asian markets suggests little movement ahead of the FOMC interest rate decision later today. The European markets were up and the U.S. bourses were mixed and flat - and the Asian markets are tipped to follow the latter lead.

The TSE finished barely lower on Tuesday as losses from the plastic stocks were offset by support from the financials and technology companies.

For the day, the index eased 0.38 points to finish at 10,512.32 after trading between 10,484.69 and 10,525.60.

Among the actives, Cathay Financial jumped 1.86 percent, while Mega Financial collected 0.54 percent, CTBC Financial was up 0.24 percent, Fubon Financial spiked 2.07 percent, Taishin Financial gathered 0.72 percent, Taiwan Semiconductor Manufacturing Company shed 0.21 percent, Hong Hai Precision added 0.42 percent, Largan Precision climbed 1.07 percent, AsusTek Computer rose 0.22 percent, MediaTek dropped 0.90 percent, Catcher Technology advanced 0.87 percent, Asia Cement perked 0.93 percent, Taiwan Cement was up 0.79 percent, Formosa Plastic shed 0.47 percent and Formosa Chemical & Fiber, United Microelectronics Corporation and First Financial were unchanged.

The lead from Wall Street offers little guidance as the major averages shook off an early spike Tuesday and finished roughly flat.

The Dow shed 26.72 points or 0.10 percent to finish at 25,887.38, while the NASDAQ added 9.47 points or 0.12 percent to 7,723.95 and the S&P 500 fell 0.37 points or 0.01 percent to 2,832.57.

The early strength on Wall Street partly reflected continued optimism about U.S.-China trade talks, although that ebbed on reports that China is pushing back against American demands.

Traders were also reluctant to make big moves ahead of the Federal Reserve's monetary policy decision later today. The Fed is widely expected to leave interest rates unchanged, although the accompanying statement may provide clues about the outlook for rates.

Crude oil futures settled marginally lower on Tuesday, as traders weighed the supply and demand situation in the market. West Texas Intermediate Crude oil futures for April ended down $0.06 or 0.1 percent at $59.03 a barrel.

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