Taiwan Shares May Rebound On Monday

RTTNews | 577 दिनों पहले
Taiwan Shares May Rebound On Monday

(RTTNews) - The Taiwan stock market on Friday halted the seven-day winning streak in which it had surged more than 750 points or 4.8 percent. The Taiwan Stock Exchange now sits just above the 16,680-point plateau although it may bounce higher again on Monday.

The global forecast for the Asian markets is mixed to higher on renewed optimism over the outlook for interest rates. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The TSE finished modestly lower on Friday following losses from the plastic and cement sectors, while the financials and technology stocks were mixed.

For the day, the index shed 63.03 points or 0.38 percent to finish at 16,682.67 after trading between 16,651.23 and 16,725.94.

Among the actives, Cathay Financial lost 0.44 percent, while Mega Financial shed 0.52 percent, CTBC Financial collected 0.59 percent, First Financial perked 0.19 percent, Fubon Financial slid 0.32 percent, E Sun Financial rose 0.20 percent, United Microelectronics Corporation eased 0.10 percent, Hon Hai Precision sank 0.72 percent, Largan Precision retreated 1.64 percent, Catcher Technology rallied 2.18 percent, MediaTek tanked 2.32 percent, Delta Electronics added 0.50 percent, Novatek Microelectronics fell 0.31 percent, Formosa Plastics sank 0.77 percent, Nan Ya Plastics dropped 0.61 percent, Asia Cement was down 0.12 percent, Taiwan Cement dipped 0.15 percent, China Steel gained 0.44 percent and Taiwan Semiconductor Manufacturing Company was unchanged.

The lead from Wall Street is broadly positive as the major averages opened higher on Friday and continued to advance as the day progressed, ending near session highs.

The Dow surged 391.20 points or 1.15 percent to finish at 34,283.10, while the NASDAQ rallied 276.71 points or 2.05 percent to end at 13,798.11 and the S&P 500 jumped 67.89 points or 1.56 percent to close at 4,415.24. For the week, the NASDAQ shot up 2.4 percent, the S&P 500 rose 1.3 percent and the Dow climbed 0.7 percent.

The rally on Wall Street came as traders shrugged off concerns about the outlook for interest rates sparked by remarks from Federal Reserve Chair Jerome Powell on Thursday. Powell said the Fed is unsure rates are at a restrictive level to bring inflation down to 2 percent and warned the central bank would not hesitate to resume raising rates.

Despite Powell's comments, CME Group's FedWatch Tool currently still suggests the Fed is likely to leave interest rates over the next several months before cutting rates in mid-2024.

Stocks initially benefited from a pullback by treasury yields, which surged in afternoon trading on Thursday following a disappointing 30-year bond auction as well as Powell's comments. But the major averages continued to advance over the even though yields rebounded.

Crude oil prices rose sharply Friday, but the most active oil futures contract still suffered a third weekly loss as the disruption threats continued to fade. West Texas Intermediate Crude oil futures for December ended up $1.43 or 1.9 percent at $77.17 a barrel. WTI crude futures shed more than 4 percent in the week.

read more
European Economic News Preview: UK GDP, Foreign Trade Data Due

European Economic News Preview: UK GDP, Foreign Trade Data Due

Monthly GDP, industrial production and foreign trade from the UK are due on Thursday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial production and foreign trade figures. The economy is forecast to shrink 0.1 percent on a monthly basis in April, reversing a 0.2 percent rise in March.
RTTNews | 38 मिनटों पहले
Sensex, Nifty Subdued In Cautious Trade

Sensex, Nifty Subdued In Cautious Trade

Indian shares were subdued on Thursday as investors assessed U.S. President Donald Trump's declaration that a trade deal with China was "done" and that he would set unilateral tariff rates for trading partners within two weeks.
RTTNews | 55 मिनटों पहले
Australian Market Doubles Early Gains In Mid-market

Australian Market Doubles Early Gains In Mid-market

The Australian market is doubling its early gains in mid-market moves on Thursday, extending the gains in the previous two sessions, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,600 level, with gains in gold miners and energy stocks partially offset by weakness in iron ore miners.
RTTNews | 1घंटे 18 मिनट पहले
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Thursday, following the broadly negative cues from Wall Street overnight, after US President Donald Trump said he and Chinese President Xi Jinping "are going to work closely together to open up China to American Trade." However, signs of escalating geopolitical tensions in the Middle East are weighing on market sentiment.
RTTNews | 2घंटे 9 मिनट पहले
Sensex, Nifty Seen Lower As Investors Monitor Trade, Geopolitical Developments

Sensex, Nifty Seen Lower As Investors Monitor Trade, Geopolitical Developments

Indian shares look set to open lower on Thursday as oil prices climbed on signs of rising tensions in the Middle East and U.S. President Donald Trump said he would notify trading partners within the next one to two weeks about the new unilateral tariff rates, with the choice to accept or reject them.
RTTNews | 2घंटे 46 मिनट पहले
Rally May Stall For Thai Stock Market

Rally May Stall For Thai Stock Market

The Thai stock market has moved higher in back-to-back sessions, collecting more than 6 points or 0.6 percent along the way. The Stock Exchange of Thailand now rests just above the 1,140-point plateau although it may be stuck in neutral on Thursday.
RTTNews | 3घंटे 20 मिनट पहले
Japanese Market Notably Lower

Japanese Market Notably Lower

The Japanese market is trading notably lower on Thursday, snapping a four-session winning streak, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling well below the 38,200 level, with weakness across most sectors led by automakers, exporters and technology stocks. Financial stocks are the only bright spot.
RTTNews | 3घंटे 42 मिनट पहले
Indonesia Bourse May Extend Wednesday's Losses

Indonesia Bourse May Extend Wednesday's Losses

The Indonesia stock market on Wednesday ended the three-day winning streak in which it had gained almost 190 points or 2.7 percent. The Jakarta Composite Index now rests just above the 7,220-point plateau and the losses may accelerate on Thursday.
RTTNews | 3घंटे 50 मिनट पहले