Taiwan Stock Market Expected To Open In The Green On Tuesday

(RTTNews) - The Taiwan stock market has tracked higher in four straight sessions, collecting more than 525 points or 2.1 percent along the way. The Taiwan Stock Exchange now sits just beneath the 24,550-point plateau and it's tipped to open to the upside again on Tuesday. The global forecast for the Asian markets is upbeat on optimism over the outlook for interest rates. The European and U.S. markets were modestly higher and the Asian bourses are expected to follow that lead. The TSE finished modestly higher on Monday following mixed performances from the financial shares, technology stocks and plastics companies. For the day, the index picked up 52.80 points or 0.22 percent to finish at 24,547.38 after trading between 24,526.14 and 24,729.96. Among the actives, Mega Financial dropped 0.97 percent, while First Financial collected 0.68 percent, E Sun Financial tanked 2.04 percent, United Microelectronics Corporation advanced 0.97 percent, Hon Hai Precision sank 0.73 percent, Largan Precision fell 0.21 percent, Catcher Technology climbed 1.07 percent, MediaTek shed 0.35 percent, Novatek Microelectronics lost 0.34 percent, Formosa Plastics improved 0.93 percent, Nan Ya Plastics eased 0.13 percent, Asia Cement was down 0.27 percent and Cathay Financial, CTBC Financial, Fubon Financial, Taiwan Semiconductor Manufacturing Company and Delta Electronics were unchanged. The lead from Wall Street is cautiously optimistic as the major averages opened mixed on Monday but all finished with modest gains.

The Dow climbed 114.09 points or 0.25 percent to finish at 45,514.95, while the NASDAQ advanced98.31 points or 0.45 percent to close at 21,798.70 and the S&P 500 rose 13.65 points or 0.21 percent to end at 6,495.15.

The strength on Wall Street reflected optimism about the outlook for interest rates following last Friday's weaker-than-expected U.S. employment data.

Following the release of a closely watched report showing employment increased by much less than expected in the month of August, CME Group's FedWatch Tool is currently indicating a 90.2 percent chance the Fed will lower rates by a quarter point later this month.

Overall trading activity was subdued, however, as traders looked ahead to the release of consumer and producer price inflation later this week, which could also impact the outlook for rates.

Crude oil moved higher Monday on the threat of sanctions hanging over Russia on its oil exports, although the upside was limited by OPEC's decision Sunday to increase output. West Texas Intermediate crude for October delivery was up $0.53 or 0.86 percent at $62.40 per barrel. Closer to home, Taiwan will release August figures for imports, exports and trade balance later today. Imports are expected to jump 25.75 percent on year, up from 20.8 percent in July. Exports are called higher by an annual 22.3 percent, down from 42.0 percent in the previous month. The trade surplus is seen at $12.80 billion, down from $14.34 billion a month earlier.