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Win Streak May End For Taiwan Stock Market

The Taiwan stock market has finished higher in five straight sessions, gathering more than 195 points or 1.9 percent in that span. The Taiwan Stock Exchange now rests just beneath the 10,530-point plateau although investors may cash in on Friday.

The global forecast for the Asian markets is flat to lower ahead of Fed Chairman Jerome Powell's speech later today at the Jackson Hole Economic Policy Symposium. The European markets were down and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.

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

For the day, the index added 3.98 points or 0.04 percent to finish at 10,529.78 after trading between 10,515.72 and 10,596.41.

Among the actives, Cathay Financial eased 0.13 percent, while Mega Financial collected 0.36 percent, CTBC Financial slid 0.25 percent, Fubon Financial gained 0.47 percent, First Financial advanced 0.95 percent, E Sun Financial sank 0.60 percent, Taiwan Semiconductor Manufacturing Company shed 0.20 percent, United Microelectronics Corporation tumbled 1.85 percent, Hon Hai Precision added 0.54 percent, Largan Precision spiked 2.74 percent, Catcher Technology plunged 2.23 percent, MediaTek lost 0.58 percent, Asia Cement fell 0.24 percent, Taiwan Cement eased 0.26 percent and Formosa Plastic dropped 0.65 percent.

The lead from Wall Street offers little guidance as stocks failed to sustain an early move to the upside on Thursday and showed a lack of direction before finishing mixed.

The Dow added 49.51 points or 0.19 percent to 26,252.24, while the NASDAQ lost 28.82 points or 0.36 percent to 7,991.39 and the S&P 500 fell 1.48 points or 0.05 percent to 2,922.95.

The choppy trading on Wall Street came amid another inversion of the yield curve, with the yield on the two-year note briefly dropping below the yield on the ten-year note after the minutes of the Federal Reserve's latest monetary policy meeting failed to provide much clarity about the outlook for interest rates.

In economic news, the Labor Department said first-time claims for unemployment benefits fell by much more than expected last week. Also, the Conference Board said its leading U.S. economic indicators rose by much more than anticipated in July.

Crude oil prices edged lower Thursday on concerns about the outlook for near-term energy demand due to a slowing global economy. West Texas Intermediate crude oil futures for October ended down $0.33 or 0.6 percent at $55.35 a barrel.

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