Taiwan Stock Market Due For Profit Taking

RTTNews | hace 931
Taiwan Stock Market Due For Profit Taking

(RTTNews) - The Taiwan stock market has moved higher in four straight sessions, collecting more than 750 points or 5.2 percent along the way. The Taiwan Stock Exchange now rests just beneath the 15,500-point plateau although investors are likely to cash in on Tuesday.

The global forecast for the Asian markets suggests consolidation ahead of rate decisions this week from central banks in England and the United States. The European markets were mixed and little changed and the U.S. bourses were firmly in the red and the Asian markets figure to split the difference. Returning from the long Lunar New Year break, the TSE finished sharply higher on Monday with gains across the board, especially among the technology, cement and financial sectors. For the day, the index skyrocketed 560.89 points or 3.76 percent to finish at the daily high of 15,493.82 after trading between 15,291.53. Among the actives, Cathay Financial strengthened 1.67 percent, while Mega Financial jumped 1.87 percent, Fubon Financial rallied 2.01 percent, First Financial collected 0.56 percent, E Sun Financial accelerated 3.11 percent, Taiwan Semiconductor Manufacturing Company skyrocketed 7.95 percent, United Microelectronics Corporation surged 6.20 percent, Largan Precision spiked 4.34 percent, Catcher Technology climbed 1.71 percent, MediaTek soared 6.64 percent, Delta Electronics added 0.87 percent, Novatek Microelectronics gained 0.86 percent, Formosa Plastics rose 1.58 percent, Nan Ya Plastics gained 2.67 percent, Asia Cement gathered 0.70 percent, Taiwan Cement improved 2.64 percent and Hon Hai Precision and CTBC Financial were unchanged. The lead from Wall Street is broadly negative as the major averages opened lower on Monday and moved deeper into the red as the day progressed, finishing near session lows.

The Dow plunged 260.99 points or 0.77 percent to finish at 33,717.09, while the NASDAQ tumbled 227.90 points or 1.96 percent to close at 11,393.81 and the S&P 500 dropped 52.79 points or 1.30 percent to end at 4,017.77.

The weakness on Wall Street came as investors looked to lock in gains following recent strength in the markets, and also to consolidate positions ahead of the Federal Reserve's rate decision on Wednesday. The Fed is widely expected to slow the pace of interest rate hikes to 25 basis points. Traders will pay close attention to the accompanying statement for clues about the outlook for further rate hikes.

Recent upbeat economic data has generated some optimism the Fed could engineer a soft landing but has also led to concerns the central bank will need to keep rates at elevated levels for longer than anticipated.

Oil prices fell to near three-week lows on Monday amid concerns about global economic growth and the outlook for oil demand following Russia's decision to allow its energy companies to determine their own pricing and exports. West Texas Intermediate Crude oil futures for March dropped $1.78 or 2.2 percent at $77.90 a barrel. Closer to home, Taiwan will release December figures for export orders later today, with forecasts suggesting a decline of 11.2 percent on year following the 23.4 percent contraction in November.

read more
TSX Down Marginally In Lackluster Trade

TSX Down Marginally In Lackluster Trade

Canadian stocks are turning in a lackluster performance on Monday as investors closely focusing on the meeting between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskyy at the White House.
RTTNews | hace 3h 42min
Swiss Market Settles Flat

Swiss Market Settles Flat

After a flat start, the Switzerland market turned weak Monday morning and then spent the rest of the day's trading session in negative territory as investors remained reluctant to pick up stocks as they looked ahead to a meeting between U.S. President Donald Trump and several European leaders to discuss the situation in Ukraine.
RTTNews | hace 4h 9min
European Markets Close On Mixed Note After Cautious Session

European Markets Close On Mixed Note After Cautious Session

European stocks turned in a mixed performance on Monday as investors largely stayed cautious, looking ahead to the meeting between U.S. President Donald Trump and several European leaders, including Ukrainian President Volodymyr Zelenskyy after the Trump-Putin Summit failed to result in any breakthrough to end the war in Ukraine.
RTTNews | hace 4h 26min
Dollar Extends Losses As Markets Cling On To Fed Cut Hopes

Dollar Extends Losses As Markets Cling On To Fed Cut Hopes

The Dollar extended losses during the week ended August 15 amidst strong Fed rate cut expectations, benign consumer price growth, easing geopolitical concerns as well as fading concerns about trade tariff uncertainty.
RTTNews | hace 7h 9min
U.S. Homebuilder Confidence Edges Slightly Lower In August

U.S. Homebuilder Confidence Edges Slightly Lower In August

The National Association of Home Builders released a report on Monday showing a modest deterioration by U.S. homebuilder confidence in the month of August. The report said the NAHB/Wells Fargo Housing Market Index edged down to 32 in August after inching up to 33 in July. Economists had expected the index to come in unchanged.
RTTNews | hace 7h 21min
Indian Rupee Rises To 2-week High On GST Reforms Push

Indian Rupee Rises To 2-week High On GST Reforms Push

The Indian rupee strengthened against the U.S. dollar in the European session on Monday, after Prime Minister Narendra Modi unveiled plans of the biggest tax overhaul since 2017 over the weekend, boosting stocks across sectors like auto, financial, real estate, consumer and cement.
RTTNews | hace 9h 6min
Canadian Market May Open Slightly Weak

Canadian Market May Open Slightly Weak

Lower Canadian and U.S. futures and weak European markets point to a slightly negative start on Bay Street Monday morning. Firm commodity prices might help limit market's downside. The focus will be on the meeting between U.S. President Donald Trump and several European leaders, including Ukrainian President Volodymyr Zelenskiy later in the day.
RTTNews | hace 9h 42min
FTSE 100 Slips After Positive Start, Down Marginally

FTSE 100 Slips After Positive Start, Down Marginally

After a modest upmove in early trades, the U.K. market retreated on Monday with investors turning cautious, focusing on the upcoming meeting between U.S. President Donald Trump and several European leaders, after the Trump-Putin summit failed to result in any breakthrough to end the war in Ukraine.
RTTNews | hace 10h 22min