Win Streak May Continue For Taiwan Stock Market

RTTNews | 2天前

(RTTNews) - The Taiwan stock market has tracked higher in back-to-back sessions, gathering almost 540 points or 2.2 percent along the way. The Taiwan Stock Exchange now rests just above the 24,300-point plateau and it may add to its winnings again on Wednesday.

The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead. The TSE finished slightly higher again on Tuesday as gains from the technology stocks and plastics were offset by weakness from the financials and cement companies.

For the day, the index rose 27.72 points or 0.11 percent to finish at 24,305.10 after trading between 24,113.03 and 24,382.42. Among the actives, Mega Financial stumbled 2.32 percent, while First Financial skidded 1.05 percent, Fubon Financial surrendered 2.79 percent, E Sun Financial collected 0.90 percent, Taiwan Semiconductor Manufacturing Company added 0.43 percent, United Microelectronics Corporation rallied 3.08 percent, Hon Hai Precision improved 0.72 percent, Largan Precision added 0.63 percent, Catcher Technology gained 0.79 percent, MediaTek sank 0.71 percent, Delta Electronics jumped 1.33 percent, Novatek Microelectronics rose 0.58 percent, Formosa Plastics spiked 1.88 percent, Nan Ya Plastics surged 4.35 percent, Asia Cement slumped 1.57 percent and Cathay Financial and CTBC Financial were unchanged.

The lead from Wall Street is mildly positive as the major averages were flat for much of Tuesday before a late push nudged them up into the green at the close.

The Dow gained 135.60 points or 0.30 percent to finish at 45,418.07, while the NASDAQ added 94.98 points or 0.44 percent to close at 21,544.27 and the S&P 500 rose 26.62 points or 0.41 percent to end at 6,465.94.

The choppy trading on Wall Street comes as traders seem reluctant to make significant moves ahead of earnings news from Nvidia (NVDA), with the AI darling and market leader due to report its second quarter results later today. Traders are also keeping an eye on the latest developments in Washington after President Donald Trump said he is removing Fed Governor Lisa Cook from her position. Trump accused her of making false statements on one or more mortgage agreements.

Meanwhile, Trump has threatened to impose "substantial additional tariffs" on countries that do not remove digital taxes and related regulations that harm U.S. tech companies.

Crude oil prices moved sharply lower on Tuesday, reflecting concerns about erratic U.S. trade policies. West Texas Intermediate crude for October delivery tumbled $1.55 or 2.4 percent to $63.25 a barrel.

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