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Taiwan Stock Market Has A Green Light For Monday's Trade

The Taiwan stock market has finished higher in back-to-back trading days, jumping more than 430 points or 2.6 percent along the way. The Taiwan Stock Exchange now sits just above the 16,780-point plateau and it may add to its winnings on Monday.

The global forecast for the Asian markets is upbeat on solid earnings news and continued support from crude oil prices. The European and U.S. markets were up and the Asian bourses figure to follow that lead.

The TSE finished sharply higher on Friday with gains across the board - particularly from the technology stocks.

For the day, the index skyrocketed 393.91 points or 2.40 percent to finish at the daily high of 16,781.19 after moving as low as 16,426.76.

Among the actives, Cathay Financial strengthened 3.00 percent, while Mega Financial collected 0.62 percent, CTBC Financial rose 0.22 percent, Fubon Financial advanced 0.94 percent, First Financial gained 0.89 percent, E Sun Financial added 0.38 percent, Taiwan Semiconductor Manufacturing Company spiked 4.71 percent, United Microelectronics Corporation soared 4.23 percent, Hon Hai Precision rallied 2.82 percent, Largan Precision accelerated 2.03 percent, Catcher Technology shed 0.62 percent, MediaTek jumped 2.02 percent, Delta Electronics gathered 1.91 percent, Formosa Plastic was up 0.44 percent, Asia Cement increased 0.33 percent and Taiwan Cement improved 0.40 percent.

The lead from Wall Street is broadly positive as the major averages opened solidly in the green on Friday and remained that way throughout the session.

The Dow surged 382.20 points or 1.09 percent to finish at 35,294.76, while the NASDAQ jumped 73.91 points or 0.50 percent to close at 14,897.34 and the S&P rose 33.11 points or 0.75 percent to end at 4,471.37. For the week, the Dow added 1.6 percent, the NASDAQ rose 2.2 percent and the S&P gained 1.8 percent.

Another batch of upbeat earnings news fueled the rally, led by financial giant Goldman Sachs (GS) and aluminum producer Alcoa (AA), among others.

Buying interest was also generated in reaction to a report from the Commerce Department showing an unexpected increase in U.S. retail sales in September. Also, the Labor Department said import prices in the U.S. increased less than expected last month.

Crude oil futures settled notably higher Friday after the International Energy Agency said oil demand is likely to increase significantly due to the energy crunch supporting prices. West Texas Intermediate Crude oil futures for November rose $0.97 or 1.2 percent at $82.28 a barrel. For the week, WTI Crude oil futures gained 3.7 percent, surging for the eighth straight week.

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