Win Streak May Continue For Taiwan Stock Market

RTTNews | 724 days ago
Win Streak May Continue For Taiwan Stock Market

(RTTNews) - The Taiwan stock market has finished higher now in five straight sessions, surging almost 700 points or 4 percent in that span. The Taiwan Stock Exchange now rests just above the 17,330-point plateau and it's looking at another green light for Tuesday's trade.

The global forecast for the Asian markets is mixed to higher on optimism over the outlook for interest rates. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The TSE finished modestly higher again on Monday following gains from the financials and a mixed picture from the technology stocks.

For the day, the index gained 50.58 points or 0.29 percent to finish at 17,334.29 after trading between 17,235.92 and 17,346.66.

Among the actives, Cathay Financial rallied 2.04 percent, while CTBC Financial spiked 2.95 percent, Fubon Financial surged 4.00 percent, First Financial collected 0.36 percent, E. Sun Financial gained 0.57 percent, United Microelectronics Corporation added 0.41 percent, Hon Hai Precision advanced 0.91 percent, MediaTek retreated 1.30 percent, Largan Precision dipped 0.22 percent, Delta Electronics perked 0.14 percent, Catcher Technology skidded 1.14 percent, Novatek Electronics sank 0.73 percent, Taiwan Cement shed 0.68 percent, Formosa Plastics lost 0.72 percent, Nan Ya Plastics was down 0.56 percent, China Steel improved 0.51 percent and Taiwan Semiconductor Manufacturing Company, Mega Financial and Asia Cement were unchanged.

The lead from Wall Street is upbeat as the major averages opened mixed on Monday but all quickly turned higher. They pulled back from daily highs but still ended firmly in the green.

The Dow added 76.32 points or 0.22 percent to finish at 34,585.35, while the NASDAQ jumped 131.25 points or 0.93 percent to close at 14,244.95 and the S&P 500 rose 17.37 points or 0.39 percent to end at 4,522.79.

The strength on Wall Street partly reflected recent upward momentum, as encouraging inflation data has added to optimism about the outlook for interest rates ahead of next week's Federal Reserve meeting.

While the Fed is widely expected to raise rates by another quarter point, traders are hopeful that will mark the final rate hike.

On the U.S. economic front, the New York Federal Reserve released a report showing a pullback in the pace of growth in regional manufacturing activity in the month of July.

Oil prices fell on Monday amid concerns about the outlook for energy demand after data showed the Chinese economy grew at slower than expected pace in the second quarter. West Texas Intermediate Crude oil futures for August ended lower by $1.27 or 1.7 percent at $74.15 a barrel.

read more
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 | 19 minutes 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 | 44 minutes ago
Yen Retreats Against Majors

Yen Retreats Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Friday.
RTTNews | 1h 12min ago
Antipodean Currencies Rise Amid Risk-on Mood

Antipodean Currencies Rise Amid Risk-on Mood

The antipodean currencies such as the Australia and the New Zealand dollars strengthened against other major currencies in the Asian session on Friday amid increased risk-on mood by the investors, following the broadly positive cues from Wall Street overnight, as traders hope for an end to the tariff uncertainty after U.S. President Donald Trump confirmed he will not extend the August 1 deadline for striking trade deals, though he continues to threaten higher reciprocal tariffs on various sectors and countries.
RTTNews | 1h 49min ago