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Tech Shares Tipped To Boost Taiwan Stock Market

The Taiwan stock market has finished higher in three straight trading days, gathering almost 300 points or 2.6 percent along the way. The Taiwan Stock Market now rests just above the 12,110-point plateau and it's expected to open in the green again on Tuesday.

The global forecast for the Asian markets is upbeat on optimism ahead of the trade deal between the United States and China that is expected to be signed later this week. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.

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

For the day, the index climbed 88.77 points or 0.74 percent to finish at the daily high of 12,113.42 after trading as low as 12,037.24.

Among the actives, Cathay Financial spiked 1.90 percent, while Mega Financial accelerated 2.42 percent, CTBC Financial climbed 1.12 percent, Fubon Financial collected 0.86 percent, First Financial gathered 1.27 percent, E Sun Financial perked 1.60 percent, Taiwan Semiconductor Manufacturing Company added 0.59 percent, United Microelectronics Corporation shed 0.62 percent, Hon Hai Precision gained 0.67 percent, Largan Precision fell 0.30 percent, Catcher Technology soared 3.39 percent, MediaTek tumbled 2.31 percent, Asia Cement gained 0.72 percent, Taiwan Cement rose 1.72 percent and Formosa Plastic eased 0.10 percent.

The lead from Wall Street is positive as stocks moved mostly higher on Monday, rebounding from the pullback in the previous session. With the upward move, the NASDAQ and the S&P 500 ended the session at new record closing highs.

The Dow added 83.28 points or 0.29 percent to finish at 28,907.05, while the NASDAQ jumped 95.07 points or 1.04 percent to 9,273.93 and the S&P 500 rose 22.78 points or 070 percent to 3,288.13.

The strength on Wall Street came amid continued optimism about impact of the phase one China-U.S. trade deal. Chinese Vice Premier Liu He is scheduled to visit Washington to sign the deal, which is said to include reduced tariffs on Chinese goods in exchange for increased Chinese purchases of U.S. agricultural products.

Stocks saw further upside after various media reports said the Treasury Department will drop its designation of China as a "currency manipulator" ahead of the signing of the deal.

Crude oil prices declined sharply on Monday amid easing worries about U.S.-Iran tensions as the futures contract settled at its lowest level in six weeks. West Texas Intermediate Crude oil futures ended down $0.96 or 1.6 percent at $58.08 a barrel, the lowest price since early December.

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