Win Streak May Continue For Taiwan Stock Market

RTTNews | 576 days ago
Win Streak May Continue For Taiwan Stock Market

(RTTNews) - The Taiwan stock market has moved higher in back-to-back sessions, improving more than 230 points or 1.5 percent along the way. The Taiwan Stock Exchange now sits just beneath the 16,915-point plateau and it may extend its gains on Wednesday.

The global forecast for the Asian markets is upbeat on better than expected U.S. inflation data, which fueled optimism over interest rates. The European and U.S. markets were firmly higher and the Asian bourses figure to follow suit.

The TSE finished modestly higher on Tuesday following gains from the financial and plastic shares and a mixed picture from the technology stocks.

For the day, the index gained 76.42 points or 0.45 percent to finish at 16,915.71 after trading between 16,884.52 and 16,946.38.

Among the actives, Cathay Financial collected 0.44 percent, while Mega Financial perked 0.13 percent, CTBC Financial spiked 2.15 percent, First Financial was up 0.19 percent, Taiwan Semiconductor Manufacturing Company rose 0.18 percent, United Microelectronics Corporation dropped 0.82 percent, Hon Hai Precision soared 2.35 percent, Largan Precision shed 0.47 percent, Catcher Technology retreated 1.33 percent, MediaTek eased 0.11 percent, Novatek Microelectronics added 0.31 percent, Formosa Plastics gathered 0.39 percent, Nan Ya Plastics rallied 1.54 percent, Asia Cement slumped 1.11 percent, Taiwan Cement sank 0.91 percent, China Steel gained 0.20 percent and Delta Electronics, Fubon Financial and E Sun Financial were unchanged.

The lead from Wall Street is broadly positive as the major averages opened sharply higher on Tuesday and stayed that way throughout the session.

The Dow surged 489.83 points or 1.43 percent to finish at 34,827.70, while the NASDAQ rallied 326.64 points or 2.37 percent to end at 14,094.38 and the S&P 500 jumped 84.15 points or 1.91 percent to close at 4,495.70.

The rally on Wall Street came following the release of the Labor Department's highly anticipated report on consumer price inflation in October, which came in lower than expected.

The report may provide the Federal Reserve with confidence that inflation is on a downward trajectory, so further rate hikes may not be necessary.

Treasury yields moved sharply lower following the release of the report, adding to the buying interest on Wall Street.

Crude oil futures failed to hold gains and settled flat on Tuesday as traders reacted to a report from the International Energy Agency that oil markets won't be as tight as expected this quarter. West Texas Intermediate Crude oil futures for December settled at $78.26 a barrel, unchanged from the previous close.

read more
Australian Market Slightly Lower

Australian Market Slightly Lower

The Australian stock market is trading slightly lower on Friday after opening in the green, extending the losses in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying below the 8,600 level, with weakness is technology stocks partially offset by gains in gold miners and energy stocks.
RTTNews | 19 minutes ago
China Stock Market May Add To Its Winnings On Friday

China Stock Market May Add To Its Winnings On Friday

The China stock market has moved higher in back-to-back sessions, collecting more than 15 points or 0.4 percent in that span. The Shanghai Composite Index now sits just above the 3,400-point plateau and it's expected to see continued strength on Friday.
RTTNews | 24 minutes ago
Taiwan Shares May Bounce Higher Again On Friday

Taiwan Shares May Bounce Higher Again On Friday

The Taiwan stock market on Thursday ended the three-day winning streak in which it had rallied more than 810 points or 3.6 percent. The Taiwan Stock Exchange now sits just beneath the 22,290-point plateau and it may see renewed support on Friday.
RTTNews | 54 minutes ago
Singapore Bourse May Extend Thursday's Gains

Singapore Bourse May Extend Thursday's Gains

The Singapore stock market on Thursday ended the two-day slide in which it had fallen more than 15 points or 0.4 percent. The Straits Times Index now sits just above the 3,920-point plateau and it's tipped to open to the upside again on Friday.
RTTNews | 1h 24min ago
Malaysia Stock Market May See Additional Support

Malaysia Stock Market May See Additional Support

The Malaysia stock market has ticked higher in consecutive trading days, gathering almost 10 points or 0.6 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,525-point plateau and it may add to its winnings again on Friday.
RTTNews | 1h 54min ago
Win Streak May Continue For South Korea Stock Market

Win Streak May Continue For South Korea Stock Market

The South Korea stock market has finished higher in seven straight sessions, collecting more than 225 points or 8.2 percent along the way. The KOSPI now rests just above the 2,920-point plateau and it's tipped to open in the green again on Friday.
RTTNews | 2h 24min ago
New Zealand Manufacturing PMI Data Due On Friday

New Zealand Manufacturing PMI Data Due On Friday

New Zealand will on Friday release May results for the manufacturing PMI from BusinessNZ, highlighting a light day for Asia-Pacific economic activity. In April, the PMI score was 53.9.
RTTNews | 3h 18min ago
Taiwan Shares May Bounce Higher Again On Friday

Taiwan Shares May Bounce Higher Again On Friday

The Taiwan stock market on Thursday ended the three-day winning streak in which it had rallied more than 810 points or 3.6 percent. The Taiwan Stock Exchange now sits just beneath the 22,290-point plateau and it may see renewed support on Friday.
RTTNews | 3h 41min ago