Renewed Selling Pressure Expected For Taiwan Shares

(RTTNews) - The Taiwan stock market on Wednesday ended the four-day losing streak in which it had given up more than 460 points or 2.2 percent. The Taiwan Stock Exchange now sits just above the 21,350-point plateau although it may head south again on Thursday.

The global forecast for the Asian markets is soft amid continued uncertainty over U.S. trade policies. The European and U.S. markets were down and the Asian bourses figure to open in similar fashion.

The TSE finished slightly higher on Wednesday following gains from the technology stocks and a mixed picture from the financial sector.

For the day, the index rose 21.18 points or 0.10 percent to finish at 21,357.72 after trading between 21,305.73 and 21,634.37.

Among the actives, Mega Financial was up 0.25 percent, while First Financial retreated 1.28 percent, Fubon Financial slumped 1.00 percent, E Sun Financial collected 0.33 percent, Taiwan Semiconductor Manufacturing Company perked 0.21 percent, United Microelectronics Corporation spiked 2.28 percent, Largan Precision strengthened 1.34 percent, Catcher Technology climbed 1.22 percent, Delta Electronics added 0.68 percent, Novatek Microelectronics increased 0.78 percent, Formosa Plastics rose 0.42 percent, Asia Cement improved 0.83 percent and Nan Ya Plastics, MediaTek, Hon Hai Precision, CTBC Financial and Cathay Financial were unchanged.

The lead from Wall Street is soft as the major averages shook off a mildly positive open and headed south through the balance of the session, ending at daily lows.

The Dow dropped 244.95 points or 0.58 percent to finish at 42,098.70, while the NASDAQ sank 98.23 points or 0.51 percent to close at 19,100.94 and the S&P 500 slumped 32.99 points or 0.56 percent to end at 5,888.55.

The choppy trading came as traders seemed reluctant to make significant moves ahead of the release of earnings news from AI darling and market leader Nvidia (NVDA) after Wednesday's close.

The earnings news after the bell showed that Nvidia beat the street on earnings and revenue, possibly lending support to technology shares going forward.

Lingering uncertainty about President Donald Trump's trade policies also kept some traders on the sidelines following recent volatility.

Crude oil prices moved sharply higher on Wednesday on news that OPEC will establish output quotas for 2027. West Texas Intermediate crude for July delivery climbed $0.87 or 1.43 percent to $61.76 per barrel.