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Taiwan Bourse Predicted To Snap Losing Streak

The Taiwan stock market has ended lower in two straight sessions, sliding more than 80 points or 0.8 percent along the way. The Taiwan Stock Exchange now rests just above the 10,700-point plateau although it's tipped to open in the green on Wednesday.

The global forecast for the Asian markets is mixed and flat on concerns over the outlook for interest rates. The European markets were down and the U.S. bourses were mixed and the Asian markets are tipped to follow the latter lead.

The TSE finished modestly lower on Tuesday following losses from the financial shares and the technology stocks.

For the day, the index shed 48.44 points or 0.45 percent to finish at 10,702.78 after trading between 10,680.85 and 10,733.57.

Among the actives, Cathay Financial lost 0.24 percent, while Mega Financial collected 0.64 percent, Fubon Financial fell 0.34 percent, First Financial slid 0.22 percent, Taiwan Semiconductor Manufacturing Company shed 0.21 percent, United Microelectronics Corporation added 0.36 percent, Hon Hai Precision skidded 1.39 percent, Largan Precision plunged 2.31 percent, AsusTek Computer dropped 0.92 percent, Catcher Technology tumbled 1.94 percent, MediaTek eased 0.16 percent, Asia Cement rose 0.10 percent, Taiwan Cement lost 0.43 percent, Formosa Plastic retreated 1.92 percent and CTBC Financial and Taishin Financial were unchanged.

The lead from Wall Street is cautiously optimistic as stocks opened lower on Tuesday but recovered to finish mixed.

The Dow shed 22.65 points or 0.08 percent to 26,783.49, while the NASDAQ added 43.35 points or 0.54 percent to 8,141.73 and the S&P 500 rose 3.68 points or 0.12 percent to 2,979.63.

Traders seemed reluctant to make significant moves ahead of Congressional testimony by Federal Reserve Chairman Jerome Powell later today. The Fed chief is not likely to specifically lay out the central bank's plans to lawmakers, but traders will analyze his comments for clues about the outlook for rates.

Wednesday will also see the release of the minutes of the Fed's last monetary policy meeting, which may shed additional light on the central bank's decision to make notable changes to its accompanying statement.

Crude oil futures settled higher Tuesday as traders weighed crude demand and supply prospects ahead of weekly inventory data. West Texas Intermediate Crude oil futures for August ended up $0.17 or 0.3 percent at $57.83 a barrel.

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