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Win Streak May Continue For Taiwan Stock Market

The Taiwan stock market has climbed higher in back-to-back sessions, advancing almost 200 points or 1.9 percent along the way. The Taiwan Stock Exchange now rests just above the 11,555-point plateau and it's expected to open higher again on Tuesday.

The global forecast for the Asian markets is upbeat on growing optimism that a trade deal between the United States and China will soon be reached. The European and U.S. markets were up and the Asian bourses are tipped to follow suit.

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

For the day, the index soared 157.35 points or 1.38 percent to finish at 11,556.85 after trading between 11,451.72 and 11,559.07.

Among the actives, Cathay Financial advanced 2.12 percent, while Mega Financial gained 1.01 percent, CTBC Financial added 0.94 percent, Fubon Financial collected 0.90 percent, First Financial rose 0.89 percent, E Sun Financial was up 0.91 percent, Taiwan Semiconductor Manufacturing Company spiked 2.68 percent, United Microelectronics Corporation and CKH Holdings both climbed 1.03 percent, Hon Hai Precision soared 4.95 percent, Largan Precision accelerated 2.47 percent, Catcher Technology surged 6.23 percent, MediaTek jumped 1.73 percent and Asia Cement shed 0.36 percent.

The lead from Wall Street is positive as stocks opened higher Monday and stayed in the green, extending recent gains and hitting record closing highs.

The Dow added 114.75 points or 0.42 percent to 27,462.11, while the NASDAQ rose 46.80 points or 0.56 percent to 8,433.20 and the S&P 500 gained 11.36 points or 0.37 percent to 3,078.27.

The strength on Wall Street came as traders remain hopeful about a U.S.-China trade agreement, with Commerce Secretary Wilbur Ross expressing optimism phase one of a trade deal could be signed this month.

News on the merger-and-acquisition front also generated some positive sentiment, with shares of Wright Medical Group (WMGI) soaring after the medical device maker agreed to be acquired by larger rival Stryker (SYK) for $30.75 per share in cash.

Crude for December delivery moved higher on Monday, adding to recent gains on renewed optimism about the outlook for global demand. West Texas Intermediate climbed $0.45 or 0.80 percent to $56.68 per barrel.

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