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Soft Start Predicted For Taiwan Stock Market

The Taiwan stock market has finished higher in back-to-back trading days, gathering almost 200 points or 1.9 percent along the way. The Taiwan Stock Exchange now rests just above the 10,600-point plateau although it's likely to run out of steam on Wednesday.

The global forecast for the Asian markets is mixed and flat, with profit taking expected following recent gains. The European markets were up and the U.S. bourses were slightly lower and the Asian markets figure to split the difference.

The TSE finished modestly higher on Tuesday following gains from the technology stocks and a mixed bag from the financial sector.

For the day, the index gained 41.29 points or 0.39 percent to finish at 10,607.76 after trading between 10,548.06 and 10,637.90.

Among the actives, Cathay Financial spiked 1.81 percent, while Mega Financial tumbled 2.03 percent, CTBC Financial dropped 0.94 percent, Fubon Financial collected 0.68 percent, First Financial plunged 2.20 percent, Taishin Financial skidded 1.05 percent, Taiwan Semiconductor Manufacturing Company climbed 1.88 percent, United Microelectronics Corporation added 0.75 percent, Hon Hai Precision gained 0.42 percent, Largan Precision perked 1.56 percent, Catcher Technology soared 4.09 percent, MediaTek plunged 2.53 percent and AsusTek Computer was unchanged.

The lead from Wall Street is soft as stocks failed to sustain an initial move to the upside Tuesday, bouncing back and forth across the unchanged line before closing slightly lower.

The Dow shed 14.17 points or 0.05 percent to end at 26,048.51, while the NASDAQ lost 0.60 points or 0.01 percent to 7,822.57 and the S&P 500 fell 1.01 points or 0.03 percent to 2,885.72.

The initial strength on Wall Street reflected recent optimism for a potential interest rate cut by the Federal Reserve, with the central bank due to make its next monetary policy decision next week.

Buying interest waned shortly after the start of trading, however, inspiring traders to cash in on recent gains as they await further developments regarding the ongoing trade dispute between the U.S. and China.

Crude oil futures ended little changed on Tuesday as traders appeared to be waiting for a clear picture to emerge from the OPEC meeting scheduled June 25 in Vienna. West Texas Intermediate crude oil futures for July ended at $53.27 a barrel, up a penny from Monday's close.

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