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Taiwan Bourse May Extend Winning Streak

The Taiwan stock market has moved higher in back-to-back trading days, collecting more than 120 points or 1.1 percent along the way. The Taiwan Stock Exchange now rests just above the 10,925-point plateau and it may find additional support again on Wednesday.

The global forecast for the Asian markets is upbeat on positive earnings news and support from crude oil prices. The European and U.S. markets were up and the Asian bourses are tipped to follow suit.

The TSE finished modestly higher on Tuesday following gains from the technology stocks and mixed performances from the financials and cement companies.

For the day, the index climbed 52.25 points or 0.48 percent to finish at the daily high of 10,927.85 after moving as low as 10,876.34.

Among the actives, Taiwan Semiconductor Manufacturing Company added 0.59 percent, while United Microelectronics gained 0.41 percent, Hon Hai Precision perked 0.,67 percent, Largan Precision accelerated 2.28 percent, AsusTek Computer soared 2.37 percent, MediaTek climbed 1.18 percent, Catcher Technology rose 0.57 percent, Cathay Financial eased 0.11 percent, Mega Financial shed 0.35 percent, CTBC Financial collected 0.25 percent, Fubon Financial sank 0.88 percent, Asia Cement was up 0.24 percent, Taiwan Cement slid 0.47 percent, Formosa Plastic climbed 0.46 percent and Formosa Chemical, First Financial and Taishin Financial were unchanged.

The lead from Wall Street suggests mild upside as stocks fluctuated on Tuesday but managed to finish in the green.

The Dow added 67.89 points or 0.26 percent to 26,452.66, while the NASDAQ gained 24.21 points or 0.30 percent to 8,000.23 and the S&P 500 rose 1.48 points or 0.05 percent to 2,907.06.

Early buying interest was generated in reaction to solid earnings news from Dow components Johnson & Johnson (JNJ) and UnitedHealth (UNH).

The buying interest was offset by Federal Reserve report showing industrial production unexpectedly fell in March. Also, the National Association of Home Builders noted a modest improvement in U.S. homebuilder confidence in April.

Crude oil prices moved higher on Tuesday amid prospects of tight supply conditions in the market. West Texas Intermediate Crude oil futures for May ended up $0.65 or 1 percent at $64.05 a barrel.

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