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Additional Support Called For Taiwan Stock Market

The Taiwan stock market has alternated between positive and negative finishes through the last four trading days since the end of the three-day winning streak in which it had advanced almost 200 points or 2 percent. The Taiwan Stock Exchange now rests just above the 10,565-point plateau and it's predicted to open higher again on Tuesday.

The global forecast for the Asian markets is firm on easing trade tensions between the United States and Mexico. The European and U.S. bourses were up and the Asian markets are tipped to follow that lead.

The TSE finished sharply higher on Monday following gains from the financial shares, technology stocks and cement companies.

For the day, the index soared 157.27 points or 1.51 percent to finish at 10,566.47 after trading between 10,466.24 and 10,537.76.

Among the actives, Cathay Financial accelerated 1.47 percent, while Mega Financial collected 0.79 percent, CTBC Financial perked 1.19 percent, Fubon Financial spiked 2.32 percent, First Financial rose 0.22 percent, Taishin Financial added 0.35 percent, Taiwan Semiconductor Manufacturing Company soared 3.45 percent, United Microelectronics Corporation jumped 1.92 percent, Hon Hai Precision climbed 1.41 percent, Largan Precision gained 1.44 percent, AsusTek Computer advanced 0.92 percent, MediaTek surged 2.93 percent, Catcher Technology was up 2.62 percent, Asia Cement rose 0.11 percent, Taiwan Cement jumped 1.62 percent and Formosa Plastic advanced 0.91 percent.

The lead from Wall Street is positive as stocks opened sharply higher Monday, faded a bit in the afternoon but still finished firmly in the green.

The Dow added 78.74 points or 0.30 percent to 26,062.68, while the NASDAQ gained 81.07 points or 1.05 percent to 7,823.17 and the S&P 500 rose 13.39 points or 0.47 percent to 2,886.73.

The morning rally came in reaction to news the U.S. and Mexico have reached an agreement to avert President Donald Trump's threatened tariffs on all Mexican imports.

Trump also said that existing tariffs on Chinese imports will force China to make a deal and threatened to impose more tariffs if Chinese President Xi Jinping does not attend a planned meeting at the G-20 summit later this month.

Crude oil futures ended lower Monday as concerns over near term energy demand outweighed prospects of a likely extension of production cuts by OPEC. West Texas Intermediate Crude oil futures for July ended down $0.73 or 1.4 percent at $53.26 a barrel.

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