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Taiwan Bourse May Extend Winning Streak On Tuesday

The Taiwan stock market has moved higher in back-to-back trading days, gathering more than 25 points or 0.2 percent along the way. The Taiwan Stock Exchange now rests just beneath the 10,990-point plateau and it may add to its winnings on Tuesday.

The global forecast for the Asian markets suggests slight upside, thanks mainly to a surge in crude oil prices. The European and U.S. markets were mixed and little changed and the Asian markets are expected to open in similar fashion.

The TSE finished slightly higher on Monday following mixed performances from the financials and technology stocks, while the cement companies were soft.

For the day, the index added 19.21 points or 0.18 percent to finish at 10,987.71 after trading between 10,974.82 and 11,027.49.

Among the actives, Taiwan Semiconductor Manufacturing Company added 0.57 percent, while United Microelectronics tumbled 1.65 percent, Hon Hai Precision climbed 1.24 percent, Largan Precision shed 0.33 percent, AsusTek Computer advanced 1.26 percent, Catcher Technology sank 1.38 percent, MediaTek dipped 0.34 percent, Mega Financial fell 0.53 percent, CTBC Financial collected 0.25 percent, First Financial slid 0.93 percent, Fubon Financial was up 0.11 percent, Taishin Financial dropped 1.05 percent, Asia Cement plunged 1.93 percent, Taiwan Cement was down 1.68 percent and Cathay Financial and Formosa Plastic were unchanged.

The lead from Wall Street is ambiguous as stocks showed a lack of direction on Monday, bouncing back and forth across the unchanged line before ending mixed.

The Dow shed 48.49 points or 0.18 percent to finish at 26,511.05, while the NASDAQ added 17.21 points or 0.22 percent to 8,015.27 and the S&P 500 rose 2.94 points or 0.10 percent to 2,907.97.

The choppy trading on Wall Street came as traders seemed reluctant to make significant moves ahead of earnings news in the coming days from the likes of Coca-Cola (KO), Procter & Gamble (PG), Boeing (BA), Facebook (FB), Microsoft (MSFT), Amazon (AMZN), Intel (INTC), and Exxon Mobil (XOM).

The Easter Monday holiday, which has kept many overseas markets closed on the day, also contributed to light trading activity.

In economic news, the National Association of Realtors reported a significant pullback in existing home sales in March after sales had reached their highest level in almost a year in February.

Crude oil prices rose sharply on Monday after the U.S. ended the waivers it had offered to major importers of Iranian oil. West Texas Intermediate Crude oil futures soared to $65.91 a barrel at one stage, gaining more than 3 percent, before settling at $65.70 on expiration day, up $1.70 or 2.66 percent.

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