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Taiwan Shares May Tick Higher Again On Tuesday

The Taiwan stock market has moved higher in consecutive trading days - separated by the long Lunar New Year break - and advanced more than 70 points or 0.7 percent along the way. The Taiwan Stock Exchange now rests just above the 10,000-point plateau and it may add to its winnings on Tuesday.

The global forecast for the Asian markets is mixed and flat amid uncertainty about the outlook for global trade, while weakness in crude oil prices is likely to cap any upside. The European markets were up and the U.S. bourses were mixed and flat and the Asian markets are tipped to follow the latter lead.

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

For the day, the index gathered 71.99 points or 0.72 percent to finish at 10,004.25 after trading between 9,988.83 and 10,065.52 on turnover of 131.97 billion Taiwan dollars.

Among the actives, Taiwan Semiconductor Manufacturing Company spiked 3.17 percent, while AsusTek Computer retreated 2.97 percent, Hon Hai Precision eased 0.14 percent, Largan Precision soared gained 5.16 percent, United Microelectronics Corporation plunged 4.41 percent, MediaTek surged 6.75 percent, Chunghwa Telecom fell 0.47 percent, Formosa Plastics skidded 1.96 percent, Taiwan Cement perked 0.80 percent, Cathay Financial dipped 0.11 percent, CTBC Financial dropped 1.21 percent, Mega Financial lost 0.75 percent and Fubon Financial shed 0.90 percent.

The lead from Wall Street provides little guidance as stocks showed a lack of direction on Monday, bouncing back and forth across the unchanged line before ending mixed.

The Dow shed 53.22 points or 0.21 percent to finish at 25,053.11, while the NASDAQ added 9.71 points or 0.13 percent to 7,307.90 and the S&P rose 1.92 points or 0.07 percent to 2,709.80.

The choppy trading on Wall Street came amid uncertainty ahead of the next round of trade talks between the U.S. and China due to take place later this week as the world's two largest economies try to make a deal before an early March deadline.

A jump in tariffs on Chinese goods is currently set to take effect at that time, although they could be delayed if talks between U.S. and Chinese officials continue to make progress toward a trade deal.

Crude oil prices recovered from early weakness on Monday but still settled lower as weak global growth outlook raised concerns about energy demand. West Texas Intermediate Crude oil futures for March ended down $0.31 or 0.6 percent at $52.41 a barrel, well off the day's low of $51.23.

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