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Taiwan Stock Market Poised To Add To Its Winnings On Tuesday

Ahead of the long weekend for the Qingming Festival, the Taiwan stock market had rebounded - one session after snapping the four-day winning streak in which it had spiked more than 520 points or 3.3 percent. The Taiwan Stock Exchange now sits just above the 16,570-point plateau and it's looking at a green light again for Tuesday's trade.

The global forecast for the Asian markets is upbeat, although the upside may be limited since they've already had the chance to respond to most of the catalysts, while plummeting oil proves may also cap the gains. Most European markets were closed and the U.S. bourses were sharply higher and the Asian markets also figure to open in the green.

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

For the day, the index climbed 140.18 points or 0.85 percent to finish at 16,571.28 after trading between 16,496.16 and 16,602.47.

Among the actives, CTBC Financial sank 1.13 percent, while Fubon Financial jumped 1.76 percent, First Financial lost 0.68 percent, Taiwan Semiconductor Manufacturing Company rallied 2.56 percent, United Microelectronics Corporation added 0.60 percent, Hon Hai Precision tanked 2.02 percent, Largan Precision skidded 1.09 percent, Catcher Technology fell 0.24 percent, MediaTek dropped 0.83 percent, Formosa Plastic was down 0.50 percent, Asia Cement retreated 1.46 percent, Taiwan Cement eased 0.21 percent and Cathay Financial, Mega Financial and E Sun Financial were unchanged.

The lead from Wall Street is broadly positive as the major averages opened higher and saw the gains accelerate at the session progressed.

The Dow climbed 373.98 points or 1.13 percent to finish at 33,527.19, while the NASDAQ jumped 225.49 points or 1.67 percent to end at 13,705.59 and the S&P 500 rallied 58.04 points or 1.44 percent to close at 4,077.91.

The rally on Wall Street came as traders finally had an opportunity to react to the much stronger than expected monthly jobs report, which was released while the markets were closed on Friday.

Stocks saw further upside when the Institute for Supply Management said its reading on activity in the service sector soared to an all-time high in March.

Crude oil prices sank sharply Monday, weighed down by the decision from major oil producers to increase production beginning in May. West Texas Intermediate Crude oil futures for May dropped $2.80 or 4.6 percent at $58.65 a barrel.

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