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Taiwan Bourse May Halt Its Slide On Thursday

The Taiwan stock market has finished lower in four straight sessions, tumbling more than 570 points or 3.3 percent along the way. The Taiwan Stock Exchange now rests just beneath the 17,460-point plateau although it's expected to stop the bleeding on Thursday.

The global forecast for the Asian markets is positive, led by a strong rebound in energy stocks. The European and U.S. markets were up and the Asian bourses are predicted to follow that lead.

The TSE finished modestly lower on Wednesday as losses from the technology stocks were mitigated by support from the financial sector.

For the day, the index shed 69.95 points or 0.40 percent to finish at 17,458.79 after trading between 17,352.24 and 17,707.56.

Among the actives, Cathay Financial collected 0.69 percent, while Mega Financial rose 0.30 percent, CTBC Financial perked 0.22 percent, Fubon Financial gained 0.37 percent, First Financial improved 0.44 percent, E Sun Financial eased 0.19 percent, Taiwan Semiconductor Manufacturing Company added 0.69 percent, United Microelectronics Corporation plunged 3.05 percent, Hon Hai Precision tumbled 1.75 percent, Largan Precision dipped 0.17 percent, Catcher Technology tanked 2.11 percent, MediaTek dropped 0.87 percent, Delta Electronics rallied 2.00 percent, Formosa Plastic retreated 1.48 percent, Asia Cement advanced 0.96 percent and Taiwan Cement was up 0.19 percent.

The lead from Wall Street is solid as the major averages opened higher on Wednesday and remained firmly in the green throughout the session.

The Dow jumped 286.01 points or 0.83 percent to finish at 34,798.00, while the NASDAQ climbed 133.08 points or 0.92 percent to end at 14,631.95 and the S&P 500 added 35.63 points or 0.82 percent to close at 4,358.69.

The continued strength on Wall Street reflected a positive reaction to the latest batch of earnings news from several big-name companies including Coca-Cola (KO), Verizon (VZ) and Johnson & Johnson (JNJ), although Netflix (NFLX) disappointed.

Energy stocks spiked as crude oil futures settled sharply higher on Wednesday, rebounding strongly after suffering a sharp drop earlier in the week. West Texas Intermediate crude oil futures for September ended up $3.10 or 4.6 percent at $70.30 a barrel.

Significant strength was also visible among airline stocks, as reflected by the 3.2 percent jump by the NYSE Arca Airline Index. The index continued to rebound after ending Monday's trading at a five-month closing low.

Closer to home, Taiwan will release June figures for unemployment later today; in May, the jobless rate was 4.14 percent.

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