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Rally May Stall For Taiwan Stock Market

The Taiwan stock market has tracked higher in back-to-back trading days, gathering almost 45 points or 0.4 percent along the way. The Taiwan Stock Exchange now rests just above the 11,530-point plateau although it may run out of steam on Wednesday.

The global forecast for the Asian markets is negative on continuing concerns over the trade dispute between the United States and China. The European markets were mixed and the U.S. markets were down and the Asian bourses are also tipped to open in the red.

The TSE finished modestly higher on Tuesday following gains from the financials and cement stocks, while the technology companies were mixed.

For the day, the index added 28.75 points or 0.25 percent to finish at the daily high of 11,531.58 after moving as low as 11,460.06.

Among the actives, Cathay Financial collected 0.24 percent, while Mega Financial shed 0.83 percent, CTBC Financial lost 0.46 percent, Fubon Financial rose 0.22 percent, First Financial gained 0.44 percent, E Sun Financial advanced 0.37 percent, Taiwan Semiconductor Manufacturing Company eased 0.16 percent, United Microelectronics Corporation jumped 1.66 percent, Hon Hai Precision climbed 1.58 percent, Largan Precision dropped 1.00 percent, Catcher Technology accelerated 2.03 percent, MediaTek added 0.36 percent, Asia Cement soared 2.00 percent, Taiwan Cement climbed 1.21 percent and Formosa Plastic fell 0.61 percent.

The lead from Wall Street is soft as stocks opened sharply lower on Tuesday, regained some ground but still finished firmly in the red.

The Dow shed 280.23 points or 1.01 percent to 27,502.81, while the NASDAQ lost 47.34 points or 0.55 percent to 8,520.64 and the S&P 500 fell 20.67 points or 0.66 percent to 3,093.20.

The early sell-off on Wall Street came amid renewed trade concerns after President Donald Trump suggested he might prefer to wait until after the 2020 elections to strike a trade deal with China.

The comments from the president added to rising trade concerns after his administration threatened to impose duties of up to 100 percent on $2.4 billion in French imports, including champagne and handbags.

After recovering from an early move to the downside, the price of crude oil fluctuated over the course of the trading day on Tuesday. Crude oil for January delivery eventually ended the day up $0.14 or 0.3 percent at $56.10 after falling as low as $55.35 a barrel.

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