Continued Consolidation Called For Taiwan Stock Market

RTTNews | 77 दिनों पहले
Continued Consolidation Called For Taiwan Stock Market

(RTTNews) - The Taiwan stock market on Monday snapped the five-day winning streak in which it had surged more than 1,300 points or 6.4 percent. The Taiwan Stock Exchange now sits just above the 20,530-point plateau and it may take further damage on Tuesday.

The global forecast for the Asian markets is soft on tariff concerns and sinking oil prices. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to split the difference.

The TSE finished sharply lower on Monday following losses from the financial shares and technology stocks, while the plastics companies offered support.

For the day, the index stumbled 254.65 points or 1.23 percent to finish at 20,532.99 after trading between 20,320.80 and 20,885.54.

Among the actives, Cathay Financial and Fubon Financial both eased 0.16 percent, while Mega Financial strengthened 1.46 percent, CTBC Financial tanked 2.36 percent, First Financial sank 0.79 percent, E Sun Financial shed 0.54 percent, Taiwan Semiconductor Manufacturing Company retreated 1.26 percent, United Microelectronics Corporation slumped 1.31 percent, Largan Precision and Hon Hai Precision both surrendered 3.39 percent, Catcher Technology stumbled 2.04 percent, MediaTek fell 0.38 percent, Delta Electronics climbed 1.13 percent, Novatek Microelectronics advanced 0.97 percent, Formosa Plastics soared 3.74 percent, Nan Ya Plastics rallied 2.43 percent and Asia Cement jumped 1.56 percent.

The lead from Wall Street is negative as the major averages opened lower on Monday, rallied midday but turned lower into the finish to end in the red.

The Dow shed 98.60 points or 0.24 percent to finish at 41,218.83, while the NASDAQ dropped 133.49 points or 0.74 percent to close at 17,844.24 and the S&P 500 sank 36.29 points or 0.64 percent to end at 5,650.38.

The early pullback on Wall Street came as some traders looked to cash in on the recent strength in the markets, which had lifted the major averages to their best levels in a month.

Renewed trade concerns also weighed on stocks after President Donald Trump announced plans to impose a 100 percent tariff on movies produced in foreign countries.

However, early selling pressure waned following the release of a report from the Institute for Supply Management showing an unexpected increase in U.S. service sector activity in April.

Crude oil futures moved sharply lower on Monday to a four-year low after several members of OPEC+ agreed to increase oil production for a second month. West Texas Intermediate crude for June delivery tumbled $1.16 or 2 percent to $57.13 a barrel.

read more
NZ Dollar Slides Against Majors

NZ Dollar Slides Against Majors

The New Zealand dollar weakened against other major currencies in the European session on Tuesday.
RTTNews | 25 मिनटों पहले
Asian Shares Mixed As Investors Await Key Earnings

Asian Shares Mixed As Investors Await Key Earnings

Asian shares turned in a mixed performance on Tuesday as trade tensions persisted and investors waited for clues on how companies are withstanding tariffs.
RTTNews | 59 मिनटों पहले
RBA Board Says Another Rate Cut Inconsistent With Cautious Stance, Minutes Show

RBA Board Says Another Rate Cut Inconsistent With Cautious Stance, Minutes Show

Reserve Bank of Australia's policymakers said cutting the interest rate for a third straight time within the gap of four meetings would be inconsistent with the cautious monetary policy stance, the minutes of the July monetary policy meeting showed Tuesday. Majority of members said that it would be prudent to wait for confirmation that inflation would sustainably return to target as forecast.
RTTNews | 1घंटे 30 मिनट पहले
Pound Falls Against Most Majors

Pound Falls Against Most Majors

The British pound weakened against most major currencies in the European session on Tuesday.
RTTNews | 1घंटे 38 मिनट पहले
European Shares Set For Subdued Open On Tariff Angst

European Shares Set For Subdued Open On Tariff Angst

European stocks may drift lower at open on Tuesday as investors react to the latest tariff updates and look forward to earnings from several big-name companies this week, including Google parent Alphabet, Tesla, General Motors and Intel.
RTTNews | 4घंटे 4 मिनट पहले
Sensex, Nifty Pare Early Gains

Sensex, Nifty Pare Early Gains

Indian shares eked out modest gains in cautious trade on Tuesday as investors seek clarity on trade developments ahead of an August 1 deadline for U.S. reciprocal tariffs.
RTTNews | 5घंटे 11 मिनट पहले