Taiwan Stock Market Tipped To Open In The Green

(RTTNews) - The Taiwan stock market has moved higher in straight sessions, advancing almost 850 points or 3.9 percent along the way. The Taiwan Stock Exchange now sits just above the 22,580-point plateau and it's expected to open to the upside again on Monday.

The global forecast for the Asian markets is positive on optimism over a possible resolution to tariff talks. The European and U.S. markets finished higher and the Asian bourses are expected to follow that lead.

The TSE finished modestly higher on Friday following gains from the financial shares and the technology stocks.

For the day, the index gained 87.78 points or 0.39 percent to finish at the daily high of 22,580.08 after trading as low as 22,388.59.

Among the actives, Mega Financial collected 0.49 percent, while CTBC Financial dipped 0.16 percent, First Financial climbed 1.05 percent, E Sun Financial jumped 1.85 percent, Taiwan Semiconductor Manufacturing Company added 0.47 percent, United Microelectronics Corporation spiked 2.43 percent, Hon Hai Precision expanded 1.23 percent, Largan Precision and Asia Cement both strengthened 1.29 percent, Catcher Technology improved 0.71 percent, MediaTek fell 0.39 percent, Delta Electronics advanced 0.95 percent, Novatek Microelectronics increased 1.51 percent, Formosa Plastics sank 0.70 percent, Nan Ya Plastics slumped 1.58 percent and Cathay Financial and Fubon Financial were unchanged.

The lead from Wall Street is upbeat as the major averages spent most of Friday in the green, shaking off a late slump to finish solidly in positive territory.

The Dow jumped 432.47 points or 1.00 percent to finish at 43,819.27, while the NASDAQ gained 105.56 points or 0.52 percent to end at 20,273.46 and the S&P 500 added 32.05 points or 0.52 percent to end at 6,173.07. For the week, the NASDAQ surged 4.3 percent, the Dow jumped 3.8 percent and the S&P 500 shot up 3.4 percent.

Optimism about new trade deals contributed to the early rally on Wall Street after President Donald Trump indicated the U.S. had signed an agreement with China.

However, stocks pulled back sharply in afternoon trading after Trump said he is ending trade talks with Canada due to the country imposing a digital services tax on U.S. technology companies.

In economic news, the Commerce Department released a closely watched report that included the Federal Reserve's preferred readings on consumer price inflation - which said overall inflation rose in line with expectations.

Crude oil posted gains on Friday in the wake of the U.S. confirming readiness to sign trade deals with China and multiple other trading partners, plus indications of strong summer demand. West Texas Intermediate crude for August delivery rose $0.28 to settle at $65.52 per barrel.