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Taiwan Bourse May Add To Its Winnings On Monday

The Taiwan stock market on Friday snapped the two-day slide in which it had fallen almost 100 points or 0.9 percent. The Taiwan Stock Exchange now rests just beneath the 10,900-point plateau and it's expected to extend its gains on Monday.

The global forecast for the Asian markets is broadly positive on renewed optimism over the outlook for interest rates. The European and U.S. markets were up and the Asian bourses are predicted to open in similar fashion.

The TSE finished slightly higher on Friday as gains from the technology stocks were offset by weakness from the cement companies and a mixed performance from the financial shares.

For the day, the index rose 18.57 points or 0.17 percent to finish at 10,894.48 after trading between 10,854.12 and 10,941.49.

Among the actives, Cathay Financial collected 0.74 percent, while Mega Financial rose 0.35 percent, CTBC Financial was up 0.24 percent, Fubon Financial lost 0.23 percent, First Financial perked 0.92 percent, E Sun Financial eased 0.19 percent, United Microelectronics Corporation added 0.37 percent, Hon Hai Precision advanced 0.97 percent, Largan Precision slid 0.22 percent, Catcher Technology gained 0.61 percent, MediaTek jumped 1.58 percent, Asia Cement sank 0.71 percent, Taiwan Cement fell 0.26 percent, Formosa Plastic gathered 0.26 percent and Formosa Chemical and Taiwan Semiconductor Manufacturing Company were unchanged.

The lead from Wall Street is upbeat as stocks moved higher again on Friday, extending gains from the previous session.

The Dow jumped 372.68 points or 1.42 percent to 26,573.72, while the NASDAQ rose 110.21 points or 1.40 percent to 7,982.47 and the S&P climbed 41.38 points or 1.42 percent to 2,952.01. For the week, the Dow shed 0.9 percent, the NASDAQ rose 0.5 percent and the S&P fell 0.3 percent.

The rally on Wall Street followed Friday's Labor Department report that showed weaker than expected job growth but an unexpected drop in the unemployment rate to a nearly 50-year low. The mixed data served the dual purpose of reinforcing expectations the Federal Reserve will continue cutting interest rates while at the same offsetting concerns about a potential recession.

Stocks saw further upside in afternoon trading after Fed Chairman Jerome Powell described the U.S. economy as "in a good place" and said it is the central bank's job to "keep it there as long as possible."

Crude oil prices moved higher Friday and snapped an eight-session losing streak after decent jobs data from the U.S. Labor Department eased concerns about growth in the U.S. economy and the outlook for energy demand. West Texas Intermediate Crude oil futures for November ended up $0.36 or 0.7 percent at $52.81 a barrel.

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