Taiwan Stock Market Due For Consolidation On Tuesday

RTTNews | Pred 567 dňami
Taiwan Stock Market Due For Consolidation On Tuesday

(RTTNews) - The Taiwan stock market has moved higher in four straight sessions, accelerating almost 650 points or 4.3 percent along the way. The Taiwan Stock Exchange now sits just beneath the 16,650-point plateau although it's likely to see some profit taking on Tuesday.

The global forecast for the Asian markets is mixed and fairly flat, with many of the regional bourses due for profit taking after big recent gains. The European markets were slightly lower and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.

The TSE finished modestly higher on Monday following gains from the financials, technology stocks and plastics.

For the day, the index rallied 141.71 points or 0.86 percent to finish at 16,649.36 after trading between 16,572.56 and 16,720.56.

Among the actives, Mega Financial increased 0.78 percent, while CTBC Financial slid 0.20 percent, First Financial collected 0.75 percent, Fubon Financial gathered 0.33 percent, E Sun Financial advanced 0.82 percent, Taiwan Semiconductor Manufacturing Company perked 0.18 percent, Hon Hai Precision added 0.63 percent, Largan Precision jumped 1.67 percent, Catcher Technology rose 0.27 percent, MediaTek improved 1.38 percent, Delta Electronics strengthened 1.32 percent, Novatek Microelectronics soared 3.77 percent, Formosa Plastics gained 0.90 percent, Nan Ya Plastics climbed 0.90 percent, Asia Cement was up 0.37 percent, Taiwan Cement lost 0.30 percent, China Steel spiked 1.83 percent and United Microelectronics Corporation and Cathay Financial were unchanged.

The lead from Wall Street suggests very mild upside as the major averages opened higher on Monday, slipped into the red late but managed to finish just above the unchanged line by the close.

The Dow rose 34.54 points or 0.10 percent to finish at 34,095.86, while the NASDAQ gained 40.50 points or 0.30 percent to close at 13,518.78 and the S&P 500 roe 7.64 points or 0.18 percent to end at 4,365.98.

The early strength on Wall Street came as traders continued to express optimism about the outlook for interest rates. The Federal Reserve's monetary policy announcement last Wednesday combined with softer than expected jobs data last Friday has led to optimism that the central bank is done raising interest rates.

Treasuries showed a significant pullback during trading on Monday after moving sharply higher over the past few sessions. Bond prices came under pressure early in the session and saw further downside as the day progressed. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, jumped 10.4 basis points to 4.662 percent.

A late round of profit taking following recent gains sent markets briefly into the red before a mild recovery.

Oil futures settled higher on Monday after Russia and Saudi Arabia confirmed that they will extend their voluntary production and supply cuts to the end of the year. West Texas Intermediate Crude oil futures for December ended higher by $0.31 or 0.4 percent at $80.82 a barrel.

Closer to home, Taiwan will provide October figures for imports, exports and consumer prices later today. In September, imports were down 12.2 percent on year and exports rose an annual 3.4 percent for a trade surplus of$10.32 billion. Overall inflation was up 2.93 percent on year.

read more
U.S. Dollar Strengthens On Trump's Tariff Delay

U.S. Dollar Strengthens On Trump's Tariff Delay

The U.S. dollar was higher against its major counterparts in the New York session on Tuesday amid easing trade tensions between the U.S. and the European Union.
RTTNews | Pred 39 minútami
European Stocks Close Broadly Higher On Strong Data, Easing Trade Tensions

European Stocks Close Broadly Higher On Strong Data, Easing Trade Tensions

European stocks closed on a positive note on Tuesday, continuing to benefit from U.S. President Donald Trump's decision to amid slightly easing concerns about a potential trade war following U.S. President Donald Trump's decision decision to wait till July 9th to implement the 50% tariffs he had threatened to impose on imports from the European Union.
RTTNews | Pred 2 h 7 min
U.S. Consumer Confidence Rebounds Much More Than Expected In May

U.S. Consumer Confidence Rebounds Much More Than Expected In May

A report released by the Conference Board on Tuesday showed a substantial improvement by U.S. consumer confidence in the month of May. The Conference Board said its consumer confidence index spiked to 98.0 in May after plunging to a downwardly revised 85.7 in April.
RTTNews | Pred 4 h 49 min
U.S. Durable Goods Orders Plunge 6.3% In April As Aircraft Orders Plummet

U.S. Durable Goods Orders Plunge 6.3% In April As Aircraft Orders Plummet

With orders for transportation equipment pulling back sharply, the Commerce Department released a report on Tuesday showing a steep drop by new orders for U.S. manufactured durable goods in the month of April. The Commerce Department said durable goods orders tumbled by 6.3 percent in April after surging by a downwardly revised 7.6 percent in March.
RTTNews | Pred 4 h 59 min
Bay Street Seen Opening Higher Again

Bay Street Seen Opening Higher Again

Canadian shares are likely to extend recent gains on Tuesday following U.S. President Donald Trump's decision to wait till July 9th to implement the 50% tariffs he had threatened to impose on imports from the European Union.
RTTNews | Pred 6 h 27 min
U.S. Durable Goods Orders Pull Back Sharply In April

U.S. Durable Goods Orders Pull Back Sharply In April

With orders for transportation equipment pulling back sharply, the Commerce Department released a report on Tuesday showing a steep drop by new orders for U.S. manufactured durable goods in the month of April.
RTTNews | Pred 6 h 27 min
Eurozone Economic Sentiment Rises More Than Forecast

Eurozone Economic Sentiment Rises More Than Forecast

Eurozone economic confidence strengthened more than expected in May as manufacturers, consumers and retailers showed signs of recovery, survey data from the European Commission revealed on Tuesday. The Economic Sentiment Indicator climbed to 94.8 from 93.8 in April. The reading was above forecast of 94.0. The rise in the ESI was primarily driven by the improvements in the industry, retail trad
RTTNews | Pred 6 h 45 min