Win Streak May Continue For Taiwan Stock Market

RTTNews | 14 days ago
Win Streak May Continue For Taiwan Stock Market

(RTTNews) - The Taiwan stock market has finished higher in three straight sessions, collecting almost 500 points or 2.2 percent along the way. The Taiwan Stock Exchange now sits just above the 23,110-point plateau and it's expected to open to the upside again on Friday.

The global forecast for the Asian markets is positive, with oil, technology and financial shares likely to lead the way higher. The European and U.S. markets were up and the Asian markets figure to follow that lead.

The TSE finished modestly higher again on Thursday following sharp gains from the plastics companies and mixed performances from the financial shares and technology stocks.

For the day, the index gained 70.38 points or 0.31 percent to finish at 23,113.28 after trading between 22,923.37 and 23,159.54.

Among the actives, Cathay Financial shed 0.63 percent, while Mega Financial and Fubon Financial both fell 0.36 percent, CTBC Financial lost 0.47 percent, First Financial collected 0.34 percent, United Microelectronics Corporation rose 0.23 percent, Hon Hai Precision advanced 0.92 percent, Largan Precision jumped 1.74 percent, Catcher Technology climbed 1.18 percent, MediaTek retreated 1.42 percent, Delta Electronics dipped 0.20 percent, Formosa Plastics surged 6.64 percent, Nan Ya Plastics soared 5.41 percent, Asia Cement stumbled 3.13 percent and Taiwan Semiconductor Manufacturing Company, Novatek Microelectronics and E Sun Financial were unchanged.

The lead from Wall Street is upbeat as the major averages opened solidly in the green on Thursday and extended their gains throughout the day.

The Dow jumped 229.71 points or 0.52 percent to finish at 44,484.49, while the NASDAQ rallied 155.16 points or 0.75 percent to close at a record 20,855.65 and the S&P 500 gained 33.66 points or 0.54 percent to end at 6,297.36, also a record.

The continued strength on Wall Street followed the release of a batch of upbeat U.S. economic data, including a Commerce Department report showing retail sales rebounded by much more than expected in the month of June.

A separate report from the Labor Department showed first-time claims for U.S. unemployment benefits unexpectedly dipped to a three-month low last month, while import prices in the U.S. inched up less than expected in June.

Crude oil prices increased on Thursday as fresh tension brewing in the Middle East generated demand, while a drop in U.S. inventories was seen as reflecting robust summer demand. West Texas Intermediate crude for August delivery surged $1.16 to settle at $67.54 per barrel.

read more
U.S. Construction Spending Unexpectedly Sees Further Downside In June

U.S. Construction Spending Unexpectedly Sees Further Downside In June

The Commerce Department released a report on Friday unexpectedly showing a continued decrease by U.S. construction spending in the month of June. The report said construction spending fell by 0.4 percent to an annual rate of $2.136 trillion in June after sliding by 0.5 percent to a revised rate of $2.144 trillion in May.
RTTNews | 1h 1min ago
U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July

U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July

Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. improved marginally less than previously estimated in the month of July. The University of Michigan said its consumer sentiment index for July was downwardly revised to 61.7 from a preliminary reading of 61.8. Economists had expected the index to be upwardly revised to 62.0.
RTTNews | 1h 5min ago
U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July

U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July

Manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in the month of July, according to a report released by the Institute for Supply Management on Friday. The ISM said its manufacturing PMI edged down to 48.0 in July after inching up to 49.0 in June with a reading below 50 indicating contraction.
RTTNews | 1h 7min ago
Eurozone Inflation Steady At 2% ECB Target

Eurozone Inflation Steady At 2% ECB Target

Euro area consumer price inflation was unchanged at the European Central Bank's 2 percent target in July, easing the pressure for more easing. The harmonized index of consumer prices increased 2.0 percent year-on-year in July, the same rate of increase as seen in June. Inflation was forecast to ease marginally to 1.9 percent.
RTTNews | 1h 54min ago
Bay Street Likely To Open On Weak Note

Bay Street Likely To Open On Weak Note

Canadian shares are set to open on a negative note on Friday as U.S. President Donald Trump's announcement of fresh tariffs on Canada and several other countries has hurt investor sentiment across global markets.
RTTNews | 3h 14min ago
FTSE 100 Down 0.55% As Trump's Tariff Moves Hurt Sentiment

FTSE 100 Down 0.55% As Trump's Tariff Moves Hurt Sentiment

U.K. stocks are down in negative territory on Friday, weighed down by trade concerns after U.S. President Donald Trump announced sweeping tariffs on several countries. The President's letters to 17 major pharma firms, urging them to cut prices, has triggered a sell-off in the pharmaceutical sector.
RTTNews | 4h 23min ago