Tech Shares Likely To Boost Taiwan Stock Market

RTTNews | vor 8 Tagen
Tech Shares Likely To Boost Taiwan Stock Market

(RTTNews) - The Taiwan stock market has moved lower in two straight sessions, sinking almost 360 points or 1.7 percent along the way. The Taiwan Stock Exchange now sits just above the 21,000-point plateau although it may find support on Tuesday.

The global forecast for the Asian markets is cautiously optimistic on optimism over the outlook for interest rates. The European markets were slightly lower and the U.S. bourses were slightly higher and the Asian markets are tipped to follow the latter lead.

The TSE finished sharply lower on Monday following losses from the technology stocks and plastics companies, while the financial sector came in mixed.

For the day, the index tumbled 344.59 points or 1.61 percent to finish at 21,002.71 after trading between 20,940.98 and 21,256.10.

Among the actives, Cathay Financial perked 0.16 percent, while Mega Financial tumbled 1.39 percent, CTBC Financial dipped 0.32 percent, First Financial dropped 1.29 percent, Fubon Financial rallied 2.76 percent, E Sun Financial jumped 1.68 percent, Taiwan Semiconductor Manufacturing Company slumped 2.17 percent, United Microelectronics Corporation added 0.43 percent, Hon Hai Precision stumbled 2.24 percent, Largan Precision declined 1.94 percent, Catcher Technology improved 0.71 percent, Delta Electronics retreated 1.74 percent, Novatek Microelectronics plummeted 4.55 percent, Formosa Plastics plunged 4.32 percent, Nan Ya Plastics tanked 4.01 percent, Asia Cement fell 0.36 percent and MediaTek was unchanged.

The lead from Wall Street is mildly positive as the major averages spent most of Monday in the red before a late rally nudged them over the unchanged line.

The Dow added 35.41 points or 0.08 percent to finish at 42,305.48, while the NASDAQ gained 128.85 points or 0.67 percent to close at 19,242.61 and the S&P 500 rose 24.25 points or 0.41 percent to end at 5,935.94.

The early weakness on Wall Street reflected renewed trade concerns amid further signs of rising tensions between the U.S. and China.

China on Monday pushed back against President Donald Trump's claims that it had broken the Geneva trade agreement, accusing the U.S. of violating the deal with increased tech export restrictions and the revocation of Chinese student visas.

However, selling pressure waned following the release of a report from the Institute for Supply Management showing U.S. manufacturing activity unexpectedly weakened in May. The report generated some optimism about the outlook for interest rates amid signs of U.S. economic weakness due to Trump's trade war.

Crude oil futures moved sharply higher on Monday, amid escalating geopolitical tensions and reports of more U.S. sanctions on Moscow. West Texas Intermediate crude for June delivery shot up $1.73 or 2.9 percent to $62.52 a barrel.

read more
ECB Indicator Shows Eurozone Wage Growth To Slow Sharply To 3.1% This Year

ECB Indicator Shows Eurozone Wage Growth To Slow Sharply To 3.1% This Year

A measure, based on the collective bargaining agreements in the euro area, suggested that negotiated wage growth is set to ease significantly this year, the European Central Bank said on Wednesday, which adds to expectations of inflation staying near the 2 percent target.
RTTNews | vor 31 Minuten
U.S. Consumer Prices Inch Up 0.1% In May, Slightly Less Than Expected

U.S. Consumer Prices Inch Up 0.1% In May, Slightly Less Than Expected

A closely watched report released by the Labor Department on Wednesday showed a slight increase by consumer prices in the U.S. in the month of May. The Labor Department said its consumer price index inched up by 0.1 percent in May after rising by 0.2 percent in April. Economists had expected another 0.2 percent increase.
RTTNews | vor 1Std 42 Minuten
Bay Street Seen Opening On Mixed Note

Bay Street Seen Opening On Mixed Note

It's likely to be a mixed start for Canadian shares on Wednesday with investors reacting to the crucial U.S. consumer price inflation data, and the developments on the trade front where U.S. and Chinese official reached a framework to implement the Geneva consensus following two days of discussions in London.
RTTNews | vor 2Std 30 Minuten
CAC 40 Drifts Lower In Cautious Trade

CAC 40 Drifts Lower In Cautious Trade

The French market is down in negative territory Wednesday afternoon, with stocks moving in a narrow range as investors await further details on U.S.-China trade talks, and the crucial inflation data from the U.S. later in the day.
RTTNews | vor 3Std 38 Minuten
Euro Rises Amid Risk-on Mood

Euro Rises Amid Risk-on Mood

The euro strengthened against other major currencies in the European session on Wednesday amid increased risk-on mood, as investors monitored the latest updates from Sino-U.S. talks and awaited crucial U.S. inflation data for direction. After two days of discussions in London, U.S. and Chinese officials have agreed on a limited framework to put their trade truce back on track.
RTTNews | vor 4Std 45 Minuten
Euro Rises Against Majors

Euro Rises Against Majors

The euro strengthened against other major currencies in the European session on Wednesday.
RTTNews | vor 4Std 54 Minuten