Taiwan Stock Market Tipped To End Losing Streak

RTTNews | 1057 gün önce

(RTTNews) - The Taiwan stock market has finished lower in two straight sessions, sinking more than 230 points or 1.8 percent along the way. The Taiwan Stock Exchange now rests just above the 13,300-point plateau although it may stop the bleeding on Tuesday.

The global forecast for the Asian markets is upbeat, supported by bargain hunting, rising oil prices and falling treasury yields. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The TSE finished modestly lower on Monday following losses from the financial shares, technology stocks and cement companies.

For the day, the index dropped 124.10 points or 0.92 percent to finish at 13,300.48 after trading between 13,273.48 and 13,440.23.

Among the actives, Cathay Financial surrendered 2.38 percent, while Mega Financial retreated 1.61 percent, CTBC Financial lost 0.76 percent, Fubon Financial declined 2.00 percent, First Financial weakened 1.35 percent, E Sun Financial slumped 1.55 percent, Taiwan Semiconductor Manufacturing Company skidded 1.18 percent, United Microelectronics Corporation dropped 1.12 percent, Hon Hai Precision sank 0.98 percent, Largan Precision tanked 2.39 percent, Catcher Technology tumbled 2.03 percent, MediaTek shed 0.54 percent, Delta Electronics fell 0.40 percent, Formosa Plastics eased 0.12 percent, Nan Ya Plastics jumped 1.20 percent, Asia Cement slid 1.02 percent and Taiwan Cement dipped 0.33 percent.

The lead from Wall Street is broadly positive as the major averages opened higher on Monday and accelerated as the session progressed, ending near daily highs.

The Dow surged 765.38 points or 2.66 percent to finish at 29,490.89, while the NASDAQ soared 239.82 points or 2.27 percent to end at 10,815.43 and the S&P 500 jumped 92.81 points or 2.59 percent to close at 3,678.43.

The rally on Wall Street was largely due to hectic bargain hunting after recent sharp losses. Data showing that U.S. manufacturing activity slowed to its weakest pace in 30 months also helped ease concerns about aggressive monetary tightening by the Federal Reserve.

Also boosting stocks, the U.S. 10-year Treasury yield fell after British Prime Minister Liz Truss was forced to reverse course on a tax cut for the highest rate.

Crude oil prices rose sharply on Monday amid speculation that OPEC will discuss cutting crude output at their upcoming meeting on Wednesday. West Texas Intermediate Crude oil futures for November ended higher by $4.14 or 5.2 percent at $83.63 a barrel.

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | 12 dakika önce

China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | 24 dakika önce

Taiwan Bourse May Hand Back Monday's Gains

The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02. Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.

RTTNews | 54 dakika önce

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 1s 24 dakika önce

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 1s 54 dakika önce

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | 2s 9 dakika önce

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2s 24 dakika önce

RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its August 12 monetary policy meeting, highlighting a modest day for Asia-Pacific economic activity.

RTTNews | 3s 24 dakika önce

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