Continued Consolidation Called For Taiwan Stock Market

RTTNews | 86 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
Bank Of Japan Keeps Rate On Hold; Lifts Inflation Forecast On Rising Food Prices

Bank Of Japan Keeps Rate On Hold; Lifts Inflation Forecast On Rising Food Prices

The Bank of Japan maintained its interest rate but lifted its inflation outlook due to rising food prices, which had added expectations of an rate hike as soon as in October. The policy board unanimously decided to hold the uncollateralized overnight call rate to remain at around 0.5 percent.
RTTNews | 32 मिनटों पहले
Yen Rises After BoJ Rate Decision

Yen Rises After BoJ Rate Decision

The Japanese yen strengthened against other major currencies in the Asian session on Thursday, following the Bank of Japan's decision to increase its inflation forecast for the fiscal year while maintaining steady interest rates.
RTTNews | 44 मिनटों पहले
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Thursday.
RTTNews | 1घंटे 9 मिनट पहले
European Economic News Preview: German Inflation, Unemployment Data Due

European Economic News Preview: German Inflation, Unemployment Data Due

Flash inflation and unemployment from Germany are due on Thursday, headlining a busy day for the European economic news. At 2.00 am ET, Destatis releases Germany's ILO unemployment data and import price figures. Import prices are forecast to fall 1.6 percent on a yearly basis in June, following a 1.1 percent drop in May.
RTTNews | 3घंटे 10 मिनट पहले
Sensex, Nifty Decline As Trump Slaps 25% Tariffs On India

Sensex, Nifty Decline As Trump Slaps 25% Tariffs On India

Indian shares were notably lower on Thursday after the United States slapped a 25 percent tariff on India, effective August 1, and threatened further penalty on Russian oil and BRICS.
RTTNews | 3घंटे 31 मिनट पहले
Australian Market Trims Early Losses In Mid-market

Australian Market Trims Early Losses In Mid-market

The Australian market is trimming early losses in mid-market moves on Thursday, reversing some of the gains in the previous three sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,750 level, with weakness cross most sectors led by mining and energy stocks.
RTTNews | 4घंटे 34 मिनट पहले
Asian Markets Mostly Lower On Tariff Worries

Asian Markets Mostly Lower On Tariff Worries

Asian stock markets are trading mostly lower on Thursday, following the mixed cues from Wall Street overnight, as traders remain cautious ahead of the final deadline of August 1 set by the US President Donald Trump for reaching trade deals with its trading partner countries. Trump hinted at higher tariffs on certain countries after the deadline. Asian markets closed mixed on Wednesday.
RTTNews | 4घंटे 59 मिनट पहले