Taiwan Stock Market May Add To Its Winnings

The Taiwan stock market bounced higher again on Monday, one session after it had ended the four-day winning streak in which it had jumped almost 300 points or 2.7 percent. The Taiwan Stock Exchange now rests just beneath the 11,185-point plateau and it may pick up steam on Tuesday.

The global forecast for the Asian markets is upbeat on renewed optimism about a trade deal between the United States and China. The European and U.S. markets were up and the Asian bourses are tipped to follow that lead.

The TSE finished slightly higher on Monday following gains from the financial shares and a mixed picture from the technology stocks.

For the day, the index rose 3.93 points or 0.04 percent to finish at 11,184.15 after trading between 11,147.86 and 11,188.13.

Among the actives, Mega Financial collected 0.34 percent, while CTBC Financial added 0.48 percent, Fubon Financial gained 0.33 percent, First Financial perked 0.68 percent, E Sun Financial slid 0.38 percent, Taiwan Semiconductor Manufacturing Company skidded 1.02 percent, United Microelectronics Corporation shed 0.36 percent, Hon Hai Precision advanced 0.91 percent, Largan Precision jumped 1.74 percent, Catcher Technology dropped 0.97 percent, MediaTek fell 0.27 percent, Asia Cement climbed 1.61 percent, Taiwan Cement was up 1.34 percent, Formosa Plastic was down 0.62 percent and Cathay Financial was unchanged.

The lead from Wall Street is positive as stocks moved higher on Monday, sending the major averages to their best closing levels in a month.

The Dow added 57.44 points or 0.21 percent to 26,827.64, while the NASDAQ gained 73.44 points or 0.91 percent to 8,162.99 and the S&P 500 rose 20.52 points or 0.69 percent to 3,006.72.

The strength on Wall Street came amid renewed optimism about the completion of phase one of a U.S.-China trade deal following encouraging comments from President Donald Trump and Chinese Vice Premier Liu He.

Strong corporate results from last week also made traders hopeful as earnings season gets into full swing in the coming days, including the likes of McDonald's (MCD), Procter & Gamble (PG), UPS (UPS), Caterpillar (CAT), eBay (EBAY), Ford (F), Microsoft (MSFT), Tesla (TSLA), Twitter (TWTR) and Amazon (AMZN).

Crude oil futures drifted lower on Monday on worries that a global economic slowdown could threaten near term energy demand. West Texas Intermediate Crude oil futures for November fell $0.47 or 0.9 percent at $53.31 a barrel.

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