Renewed Support Anticipated For Taiwan Shares

RTTNews | 819 days ago
Renewed Support Anticipated For Taiwan Shares

(RTTNews) - The Taiwan stock market on Thursday ended the four-day winning streak in which it had collected more than 120 points or 0.8 percent. The Taiwan Stock Exchange now rests just above the 15,800-point plateau, although it figures to bounce higher again on Friday.

The global forecast for the Asian markets is upbeat thanks to easing concerns over inflation and interest rates. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The TSE finished modestly lower on Thursday following mixed performances from the financial shares, technology stocks and cement companies.

For the day, the index dropped 128.21 points or 0.80 percent to finish at 15,804.76 after trading between 15,800.42 and 15,913.20.

Among the actives, Cathay Financial sank 0.81 percent, while Mega Financial collected 0.45 percent, CTBC Financial strengthened 1.36 percent, First Financial perked 0.19 percent, Fubon Financial was up 0.17 percent, Taiwan Semiconductor Manufacturing Company tumbled 1.92 percent, United Microelectronics Corporation dropped 0.96 percent, Hon Hai Precision added 0.49 percent, Largan Precision shed 0.69 percent, Catcher Technology rose 0.27 percent, MediaTek skidded 1.06 percent, Delta Electronics gained 0.67 percent, Novatek Microelectronics retreated 1.21 percent, Formosa Plastics improved 0.54 percent, Asia Cement lost 0.46 percent, Taiwan Cement gathered 0.27 percent, China Steel climbed 1.13 percent and E Sun Financial and Nan Ya Plastics were unchanged.

The lead from Wall Street is solid as the major averages opened slightly higher on Thursday but accelerated as the day progressed, ending near session highs.

The Dow surged 383.19 points or 1.14 percent to finish at 34,029.69, while the NASDAQ spiked 236.93 points or 1.99 percent to end at 12,166.27 and the S&P 500 jumped54.27 points or 1.33 percent to close at 4,146.22.

The rally on Wall Street came following a report from the Labor Department showing an unexpected decrease in U.S. producer prices in March.

Combined with Wednesday's tamer-than-expected consumer price inflation data, the report helped ease concerns about inflation and the outlook for interest rates.

A separate Labor Department report showed first-time claims for U.S. unemployment benefits rose more than expected last week.

Crude oil prices drifted lower Thursday as weak data and worries about a U.S. recession raised concerns about the outlook for oil demand. West Texas Intermediate Crude oil futures for May slumped $1.10 or 1.3 percent at $82.16 a barrel.

read more
UK Economy Contracts For Second Straight Month

UK Economy Contracts For Second Straight Month

The UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in meeting her self-imposed borrowing rules. Gross domestic product fell unexpectedly by 0.1 percent in May, following a 0.3 percent drop in April, data from the Office for National Statistics revealed on Friday.
RTTNews | 10 minutes ago
CAC 40 Down More Than 1% As Trade War Concerns Hurt Sentiment

CAC 40 Down More Than 1% As Trade War Concerns Hurt Sentiment

French stocks are notably lower on Friday, weighed down by losses in automobile and luxury sectors. The mood in the market is a bit bearish, in line with other major markets in Europe, amid renewed worries about tariffs.
RTTNews | 18 minutes ago
Walmart Recalls 850K Ozark Trail Water Bottles

Walmart Recalls 850K Ozark Trail Water Bottles

Retain giant Walmart Inc. is recalling about 850,000 Ozark Trail 64 oz Stainless Steel Insulated Water Bottles as the lid can suddenly pop off with force, causing injury, according to the U.S. Consumer Product Safety Commission. The recall includes Water Bottles sold under model number 83-662. These silver stainless-steel bottles feature a black one-piece screw-on lid.
RTTNews | 53 minutes ago
European Shares Decline As Tariff Worries Return To Haunt

European Shares Decline As Tariff Worries Return To Haunt

European stocks fell on Friday after U.S. President Donald Trump announced a 35 percent tariff on Canadian imports, starting Aug. 1, in a dramatic escalation of a trade war with the United States' closest ally over the country's alleged role in fentanyl flows.
RTTNews | 2h 0min ago
Asian Shares Mostly Lower As Trump Ups Tariff Ante

Asian Shares Mostly Lower As Trump Ups Tariff Ante

Asian shares ended mostly lower in cautious trade on Friday after U.S. President Donald Trump announced a 35 percent tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20 percent on most trading partners that haven't got letters yet.
RTTNews | 2h 24min ago
Yen Retreats Against Majors

Yen Retreats Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Friday.
RTTNews | 2h 53min ago