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Rally May Stall For Taiwan Stock Market

The Taiwan stock market has moved higher in four straight sessions, accelerating almost 370 points or 2.2 percent along the way. The Taiwan Stock Market now rests just beneath the 12,180-point plateau although it's due for profit taking on Wednesday.

The global forecast for the Asian markets is murky ahead of the trade deal between the United States and China that is expected to be signed later this week. The European markets were barely higher and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.

The TSE finished modestly higher on Tuesday following gains from the financial shares, cement companies and technology stocks.

For the day, the index advanced 66.39 points or 0.55 percent to finish at 12,179.81 after trading between 12,140.27 and 12,186.62.

Among the actives, Mega Financial gained 0.95 percent, while CTBC Financial collected 0.44 percent, Fubon Financial rose 0.43 percent, First Financial increased 0.42 percent, E Sun Financial was up 0.35 percent, Taiwan Semiconductor Manufacturing Company climbed 1.32 percent, United Microelectronics Corporation advanced 1.25 percent, Hon Hai Precision added 0.45 percent, Largan Precision spiked 2.57 percent, MediaTek skidded 1.42 percent, Asia Cement perked 0.10 percent, Taiwan Cement gathered 0.68 percent and Cathay Financial and Catcher Technology were unchanged.

The lead from Wall Street offers little clarity as the markets showed a lack of direction on Tuesday, bouncing back and forth across the unchanged line before eventually closing mixed.

The Dow added 32.62 points or 0.11 percent to finish at 28,939.67, while the NASDAQ lost 22.60 points or 0.24 percent to 9,251.33 and the S&P 500 fell 4.98 points or 0.15 percent to 3,283.15.

The choppy trading on Wall Street came as traders seemed reluctant to make big moves following quarterly results from several big-name financial companies as JPMorgan Chase (JPM) and
Citigroup (C) beat the street while Wells Fargo (WFC) missed badly.

Stocks saw some volatility in afternoon trading on reports that tariffs on billions of dollars of Chinese goods are likely to remain in place until after the U.S. elections in November.

In U.S. economic news, the Labor Department said consumer prices in the U.S. increased by slightly less than anticipated in December.

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