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Taiwan Shares Tipped To Bounce Higher On Monday

The Taiwan stock market on Friday snapped the two-day winning streak in which it had gathered more than 140 points or 1.3 percent. The Taiwan Stock Exchange now rests just above the 10,820-point plateau, although it's likely to rebound on Monday.

The global forecast for the Asian markets is upbeat on continued optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were firmly higher and the Asian markets are expected to follow the latter lead.

The TSE finished modestly lower on Friday following losses from the financials, technology stocks and cement companies.

For the day, the index dipped 19.05 points or 0.18 percent to finish at 10.824.35 after trading between 10,823.89 and 10,867.59.

Among the actives, Cathay Financial sank 0.83 percent, while CTBC Financial lost 0.69 percent, Fubon Financial slid 0.57 percent, First Financial dipped 0.22 percent, Taishin Financial collected 0.34 percent, Taiwan Semiconductor Manufacturing Company added 0.20 percent, United Microelectronics Corporation tumbled 2.34 percent, Hon Hai Precision shed 0.77 percent, Largan Precision skidded 2.32 percent, AsusTek Computer slid 0.23 percent, Catcher Technology fell 0.44 percent, MediaTek dropped 1.40 percent, Asia Cement plunged 2.23 percent, Taiwan Cement was down 1.00 percent, Formosa Plastic advanced 1.46 percent, Formosa Chemical rose 0.10 percent and Mega Financial was unchanged.

The lead from Wall Street is positive as stocks opened higher Friday and remained in the green as the major averages extended recent gains and set fresh record closing highs.

The Dow added 243.95 points or 0.90 percent to 27,332.03, while the NASDAQ gained 48.10 points or 0.59 percent to 8,244.14 and the S&P 500 rose 13.86 points or 0.46 percent to 3,013.77. For the week, the Dow surged 1.5 percent, the NASDAQ climbed 1 percent and the S&P rose 0.8 percent.

The markets continued to benefit from renewed optimism about the Federal Reserve lowering interest rates as soon as its next meeting later this month following comments from Fed Chairman Jerome Powell.

Trading activity was somewhat subdued, however, as traders brace for the unofficial start of earnings season this week.

Crude oil futures ended flat on Friday as traders weighed near term prospects for energy demand and supply. West Texas Intermediate Crude oil futures for August ended at $60.21 a barrel, up just a penny over previous close. or the week, oil futures gained about 4.7 percent.

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