Renewed Consolidation Expected For Taiwan Stock Market

RTTNews | Pred 604 dňami
Renewed Consolidation Expected For Taiwan Stock Market

(RTTNews) - The Taiwan stock market on Thursday ended the four-day losing streak in which it had stumbled more than 385 points or 2.4 percent. The Taiwan Stock Exchange now sits just above the 16,450-point plateau although it figures to head south again on Friday.

The global forecast for the Asian markets is negative on rising concerns about the outlook for interest rates and ongoing geopolitical risks. The European and U.S. markets were down and the Asian bourses are expected to follow that lead.

The TSE finished slightly higher on Thursday following a mixed performance from the technology and cement shares, while the financials were soft.

For the day, the index perked 11.82 points or 0.07 percent to finish at 16,452.73 after trading between 16,382.40 and 16,479.35.

Among the actives, Cathay Financial slumped 1.10 percent, while Mega Financial retreated 1.29 percent, CTBC Financial declined 1.19 percent, First Financial skidded 1.12 percent, Fubon Financial lost 0.65 percent, E Sun Financial weakened 1.22 percent, Taiwan Semiconductor Manufacturing Company climbed 1.11 percent, United Microelectronics Corporation jumped 1.75 percent, Hon Hai Precision tumbled 1.90 percent, Largan Precision dipped 0.24 percent, Catcher Technology rose 0.27 percent, MediaTek spiked 2.09 percent, Novatek Microelectronics added 0.57 percent, Formosa Plastics dropped 1.00 percent, Nan Ya Plastics plunged 2.83 percent, Asia Cement gained 0.26 percent, Taiwan Cement stumbled 1.69 percent, China Steel surrendered 1.41 percent and Delta Electronics was unchanged.

The lead from Wall Street remains soft as the major averages opened slightly higher on Thursday, bounced back and forth across the unchanged line throughout the session before late weakness nudged them firmly into the red.

The Dow dropped 250.91 points or 0.75 percent to finish at 33,414.17, while the NASDAQ sank 128.13 points or 0.96 percent to end at 13,186.18 and the S&P 500 lost 36.60 points or 0.85 percent to close at 4,278.00.

The volatility on Wall Street came as Federal Reserve Chair Jerome Powell delivered highly anticipated remarks at an Economic Club of New York luncheon. Powell argued that inflation is "still too high" and warned additional monetary policy tightening may be needed.

Treasury yields moved higher following Powell's remarks, extending the upward trend seen over the past few sessions and once again reaching 16-year highs.

In economic news, the Labor Department said initial jobless claims unexpectedly declined to a nearly nine-month low last week.

Crude oil futures settled higher Thursday after early losses, as Israel reportedly prepared to move into Gaza to fight against Hamas. West Texas Intermediate Crude oil futures for November added $1.05 or 1.2 percent at $89.37 a barrel.

Closer to home, Taiwan will release September data for export orders later today; in August, orders slumped 15.7 percent on year.

read more
Canadian Dollar Higher Amid Rising Oil Prices

Canadian Dollar Higher Amid Rising Oil Prices

The Canadian dollar advanced against its most major counterparts in the New York session on Friday amid a spike in oil prices after Israel launched fresh wave of attacks on Iran.
RTTNews | Pred 1 dňom
Swiss Stock Market Heads South On Friday

Swiss Stock Market Heads South On Friday

The Swiss stock market turned lower again on Friday, one day after snapping the two-day slide in which it had given up more than 50 points or 0.4 percent.
RTTNews | Pred 1 dňom
U.S. Consumer Sentiment Improves Much More Than Expected In June

U.S. Consumer Sentiment Improves Much More Than Expected In June

Preliminary data released by the University of Michigan on Friday showed a substantial improvement by consumer sentiment in the U.S. in the month of June. The University of Michigan said its consumer sentiment index surged to 60.5 in June after holding at 52.2 in May. Economists had expected the index to rise to 53.5.
RTTNews | Pred 1 dňom
CPSC Recalls: 1.2 Mln Anker Power Banks, Hedge Trimmers, High Chairs, Mattresses, Pool Covers

CPSC Recalls: 1.2 Mln Anker Power Banks, Hedge Trimmers, High Chairs, Mattresses, Pool Covers

The U.S. Consumer Product safety Commission or CPSC has announced various recalls including around 1.2 million Anker Power Banks, as well as hedge trimmers, high chairs, mattresses, pool covers and Skywalker Pro Via Ferrata Sets. China- based Anker Innovations Limited has called back about 1.16 million units of power banks citing fire and burn risks, and TTI Outdoor Power Equipment recalled...
RTTNews | Pred 1 dňom
FTSE 100 Falls Amidst Israel-Iran Conflict

FTSE 100 Falls Amidst Israel-Iran Conflict

Renewed geopolitical tensions from the Israel-Iran conflict weighed on sentiment for the FTSE 100 benchmark as it shed more than a quarter percent in Friday's trade.
RTTNews | Pred 1 dňom
Eurozone Trade Surplus Declines To 3-Month Low

Eurozone Trade Surplus Declines To 3-Month Low

Eurozone trade surplus declined to a three month low in April as demand from the US softened following tariff hikes, official data revealed on Friday. The trade surplus declined to EUR 9.9 billion in April from EUR 37.3 billion in March, Eurostat reported. This was the lowest surplus since January. In the same period last year, the surplus totalled EUR 13.6 billion.
RTTNews | Pred 1 dňom
Geopolitical Tensions Drag Down CAC 40

Geopolitical Tensions Drag Down CAC 40

An escalation in geopolitical tensions in the Middle East triggered by the Israel-Iran conflict weighed on market sentiment dragging down the CAC 40. Concerns about the trade dispute between the U.S. also weighed on sentiment.
RTTNews | Pred 1 dňom