Renewed Consolidation Expected For Taiwan Stock Market

RTTNews | 587 일 전
Renewed Consolidation Expected For Taiwan Stock Market

(RTTNews) - The Taiwan stock market on Thursday ended the four-day losing streak in which it had stumbled more than 385 points or 2.4 percent. The Taiwan Stock Exchange now sits just above the 16,450-point plateau although it figures to head south again on Friday.

The global forecast for the Asian markets is negative on rising concerns about the outlook for interest rates and ongoing geopolitical risks. The European and U.S. markets were down and the Asian bourses are expected to follow that lead.

The TSE finished slightly higher on Thursday following a mixed performance from the technology and cement shares, while the financials were soft.

For the day, the index perked 11.82 points or 0.07 percent to finish at 16,452.73 after trading between 16,382.40 and 16,479.35.

Among the actives, Cathay Financial slumped 1.10 percent, while Mega Financial retreated 1.29 percent, CTBC Financial declined 1.19 percent, First Financial skidded 1.12 percent, Fubon Financial lost 0.65 percent, E Sun Financial weakened 1.22 percent, Taiwan Semiconductor Manufacturing Company climbed 1.11 percent, United Microelectronics Corporation jumped 1.75 percent, Hon Hai Precision tumbled 1.90 percent, Largan Precision dipped 0.24 percent, Catcher Technology rose 0.27 percent, MediaTek spiked 2.09 percent, Novatek Microelectronics added 0.57 percent, Formosa Plastics dropped 1.00 percent, Nan Ya Plastics plunged 2.83 percent, Asia Cement gained 0.26 percent, Taiwan Cement stumbled 1.69 percent, China Steel surrendered 1.41 percent and Delta Electronics was unchanged.

The lead from Wall Street remains soft as the major averages opened slightly higher on Thursday, bounced back and forth across the unchanged line throughout the session before late weakness nudged them firmly into the red.

The Dow dropped 250.91 points or 0.75 percent to finish at 33,414.17, while the NASDAQ sank 128.13 points or 0.96 percent to end at 13,186.18 and the S&P 500 lost 36.60 points or 0.85 percent to close at 4,278.00.

The volatility on Wall Street came as Federal Reserve Chair Jerome Powell delivered highly anticipated remarks at an Economic Club of New York luncheon. Powell argued that inflation is "still too high" and warned additional monetary policy tightening may be needed.

Treasury yields moved higher following Powell's remarks, extending the upward trend seen over the past few sessions and once again reaching 16-year highs.

In economic news, the Labor Department said initial jobless claims unexpectedly declined to a nearly nine-month low last week.

Crude oil futures settled higher Thursday after early losses, as Israel reportedly prepared to move into Gaza to fight against Hamas. West Texas Intermediate Crude oil futures for November added $1.05 or 1.2 percent at $89.37 a barrel.

Closer to home, Taiwan will release September data for export orders later today; in August, orders slumped 15.7 percent on year.

read more
U.S. Economic Shrinks Slightly Less Than Previously Estimated In Q1

U.S. Economic Shrinks Slightly Less Than Previously Estimated In Q1

A report released by the Commerce Department on Thursday showed the U.S. economy shrank by slightly less than previously estimated in the first quarter of 2025. The Commerce Department said real gross domestic product edged down by a revised 0.2 percent in the first quarter compared to the previously reported 0.3 percent dip. Economists had expected the modest decrease to be unrevised.
RTTNews | 1 시간 18 분 전
U.S. Weekly Jobless Claims Climb More Than Expected To 240,000

U.S. Weekly Jobless Claims Climb More Than Expected To 240,000

First-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 24th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 240,000, an increase of 14,000 from the previous week's revised level of 226,000. Economists had expected jobless claims to inch up to 230,000.
RTTNews | 1 시간 21 분 전
Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Corp. is recalling around 256,185 pounds of canned beef stew product that may be contaminated with foreign material, specifically wood, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The Tucker, Georgia-based branded food major's recall involves 20-oz. metal cans containing "Dinty Moore BEEF STEW" with "BEST BY FEB 2028".
RTTNews | 1 시간 55 분 전
UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK automotive manufacturing registered its weakest start to a year since 2009, the Society of Motor Manufacturers & Traders, or SMMT, said Thursday. Car and commercial vehicle production decreased 15.8 percent on a yearly basis to 59,203 units in April. Auto production fell to the lowest level for the month since 1952, excluding 2020 when the first Covid lockdown effectively saw manufacturing c
RTTNews | 2 시간 23 분 전
Bay Street Looks Set To Start On Firm Note

Bay Street Looks Set To Start On Firm Note

Canadian shares look headed for a firm start on Thursday, with encouraging earnings by Royal Bank of Canada and Canadian Imperial Bank of Commerce, and a U.S. court ruling against U.S. President Donald Trump's sweeping tariff moves set to lift sentiment.
RTTNews | 2 시간 38 분 전
U.S. Weekly Jobless Claims Rise More Than Expected

U.S. Weekly Jobless Claims Rise More Than Expected

First-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 24th, according to a report released by the Labor Department on Thursday.
RTTNews | 2 시간 57 분 전