Additional Support Anticipated For Taiwan Stock Market

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(RTTNews) - The Taiwan stock market has moved higher in back-to-back sessions, gathering more than 320 points or 2.2 percent along the way. The Taiwan Stock Exchange now rests just beneath the 14,880-point plateau and it's tipped to open in the green again on Thursday.

The global forecast for the Asian markets is upbeat on an improved outlook for interest rates. The European and U.S. markets finished higher and the Asian bourses are expected to open in similar fashion.

The TSE finished sharply higher on Wednesday following gains from the financial shares, technology stocks and cement and plastics companies.

For the day, the index climbed 169.91 points or 1.16 percent to finish at the daily high of 14,879.55 after trading as low as 14,678.23.

Among the actives, Cathay Financial rose 0.23 percent, while Mega Financial jumped 1.59 percent, CTBC Financial collected 0.66 percent, Fubon Financial soared 2.01 percent, E Sun Financial improved 1.22 percent, Taiwan Semiconductor Manufacturing Company added 0.62 percent, United Microelectronics Corporation rallied 2.58 percent, Hon Hai Precision gained 0.50 percent, Catcher Technology and Largan Precision both climbed 1.10 percent, MediaTek spiked 2.81 percent, Delta Electronics strengthened 1.34 percent, China Steel was up 1.57 percent, Formosa Plastics increased 1.46 percent, Nan Ya Plastics perked 0.26 percent, Asia Cement gathered 0.61 percent, Taiwan Cement advanced 1.04 percent and First Financial was unchanged.

The lead from Wall Street ends up sharply positive as the major averages opened fairly flat and stayed that way before exploding higher late in the day.

The Dow surged 737.24 points or 2.18 percent to finish at 34,589.77, while the NASDAQ soared 484.22 points or 4.41 percent to end at 11,468.00 and the S&P 500 rallied 122.48 points or 3.09 percent to close at 4,080.11.

The rally on Wall Street came as Federal Reserve Chair Jerome Powell's remarks provided further evidence the central bank plans to slow its aggressive pace of interest rate hikes as soon as next month.

The Fed's next monetary policy meeting is scheduled for December 13-14, with CME Group's FedWatch Tool currently indicating a 77.0 percent chance of a 50-basis point rate hike and a 23.0 percent chance of a fifth straight 75-basis point rate hike.

In economic news, payroll processor ADP noted slower than expected private sector job growth in November, while the Commerce Department reported an unexpected upward revision to GDP growth in the third quarter.

Crude oil futures surged on Wednesday after data showed a steep drop in U.S. crude inventories last week. Expectations of increased demand from China and a weaker dollar also contributed to the jump in oil prices. West Texas Intermediate Crude oil futures for January ended higher by $2.35 or 3 percent at $80.55 a barrel.

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.

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Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.

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Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.

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Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.

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European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.

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TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.

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U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.

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Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.

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EURUSD	1.14211	GBPUSD	1.34978	AUDUSD	0.65204
USDJPY	144.911	USDCAD	1.36763	USDCHF	0.82284

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Additional Support Anticipated For Taiwan Stock Market