Taiwan Stock Market Due For Consolidation On Tuesday

RTTNews | Pred 569 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
Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Corp. is recalling around 256,185 pounds of canned beef stew product that may be contaminated with foreign material, specifically wood, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The Tucker, Georgia-based branded food major's recall involves 20-oz. metal cans containing "Dinty Moore BEEF STEW" with "BEST BY FEB 2028".
RTTNews | Pred 18 minútami
UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK automotive manufacturing registered its weakest start to a year since 2009, the Society of Motor Manufacturers & Traders, or SMMT, said Thursday. Car and commercial vehicle production decreased 15.8 percent on a yearly basis to 59,203 units in April. Auto production fell to the lowest level for the month since 1952, excluding 2020 when the first Covid lockdown effectively saw manufacturing c
RTTNews | Pred 46 minútami
Bay Street Looks Set To Start On Firm Note

Bay Street Looks Set To Start On Firm Note

Canadian shares look headed for a firm start on Thursday, with encouraging earnings by Royal Bank of Canada and Canadian Imperial Bank of Commerce, and a U.S. court ruling against U.S. President Donald Trump's sweeping tariff moves set to lift sentiment.
RTTNews | Pred 1 h 1 min
U.S. Weekly Jobless Claims Rise More Than Expected

U.S. Weekly Jobless Claims Rise More Than Expected

First-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 24th, according to a report released by the Labor Department on Thursday.
RTTNews | Pred 1 h 19 min
CAC 40 Moderately Higher Amid Easing Trade Tensions

CAC 40 Moderately Higher Amid Easing Trade Tensions

Amid easing trade war concerns following a U.S. court ruling against the sweeping tariffs announced by President Donald Trump, French stocks are moving higher on Thursday, recovering well after previous session's weakness.
RTTNews | Pred 3 h 10 min
DAX Modestly Higher As Trade Tensions Ease After U.S. Court Ruling

DAX Modestly Higher As Trade Tensions Ease After U.S. Court Ruling

German stocks are up in positive territory on Thursday amid easing trade tensions following a U.S. Federal Court ruling that President Donald Trump had overstepped his authority by imposing across-the-board duties on imports from U.S. trade partners.
RTTNews | Pred 3 h 28 min