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Additional Support Anticipated For Taiwan Shares

The Taiwan stock market has ticked higher in consecutive trading days, advancing almost 100 points or 0.9 percent along the way. The Taiwan Stock Exchange now rests just shy of the 11,610-point plateau and it may add to its winnings again on Monday.

The global forecast for the Asian markets is broadly positive on solid economic data and a spike in crude oil prices. The European and U.S. markets were firmly higher on Friday and the Asian bourses are tipped to follow that lead.

The TSE finished slightly higher on Friday following mixed performances from the financial shares and the technology stocks.

For the day, the index rose 14.94 points or 0.13 percent to finish at 11,609.64 after trading between 11,577.83 and 11,657.65.

Among the actives, Cathay Financial lost 0.60 percent, while Mega Financial fell 0.33 percent, CTBC Financial advanced 0.92 percent, Fubon Financial eased 0.11 percent, First Financial collected 0.22 percent, Taiwan Semiconductor Manufacturing Company added 0.32 percent, United Microelectronics Corporation tumbled 2.11 percent, Hon Hai Precision gained 0.67 percent, Largan Precision shed 0.42 percent, Catcher Technology rose 0.60 percent, MediaTek skidded 1.19 percent, Asia Cement jumped 1.42 percent, Taiwan Cement was up 0.24 percent, Formosa Plastic perked 0.83 percent and E Sun Financial was unchanged.

The lead from Wall Street is firm as stocks moved sharply higher on Friday as the major averages extended recent gains.

The Dow jumped 337.26 points or 1.22 percent to 28,015.06, while the NASDAQ climbed 85.83 points or 1.00 percent to 8,656.53 and the S&P 500 rose 28.48 points or 0.91 percent to 3,145.91. For the week, the Dow and NASDAQ fell 0.1 percent and the S&P added 0.2 percent.

The rally on Wall Street came after the Labor Department's closely watched monthly jobs report showed much stronger than expected U.S. job growth in November - while the unemployment rate fell to 3.5 percent.

Adding to the positive sentiment, preliminary data released by the University of Michigan showed a much bigger than expected improvement in U.S. consumer sentiment in December.

Crude oil prices rose sharply on Friday after Saudi Arabia and Russia agreed on further output curbs. West Texas Intermediate Crude oil futures for January ended up $0.77 or 1.3 percent at $59.20 a barrel, the highest settlement since September 17.

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