Tech Shares Likely To Boost Taiwan Stock Market

RTTNews | 834天前

(RTTNews) - The Taiwan stock market has moved higher in consecutive trading days, advancing more than 130 points or 0.7 percent along the way. The Taiwan Stock Exchange now rests just above the 17,290-point plateau and it's poised to extend its winning streak on Monday.

The global forecast for the Asian markets is upbeat on easing inflation concerns and an improved outlook for interest rates. The European and U.S. markets were up and the Asian bourses figure to follow that lead.

The TSE finished modestly higher on Friday following mixed performances from the financial shares, technology stocks and cement companies.

For the day, the index added 51.13 points or 0.30 percent to finish at 17,292.93 after trading between 17,179.94 and 17,328.21.

Among the actives, Cathay Financial shed 0.54 percent, while Mega Financial eased 0.12 percent, CTBC Financial sank 0.94 percent, First Financial collected 0.35 percent, Fubon Financial dipped 0.15 percent, E Sun Financial slid 0.19 percent, Taiwan Semiconductor Manufacturing Company fell 0.35 percent, United Microelectronics Corporation jumped 1.95 percent, Hon Hai Precision dropped 0.90 percent, Largan Precision rose 0.23 percent, Catcher Technology retreated 1.69 percent, Delta Electronics rallied 2.23 percent, Novatek Microelectronics added 0.36 percent, Formosa Plastics lost 0.36 percent, Nan Ya Plastics was down 0.29 percent, Asia Cement gained 0.25 percent, China Steel slumped 0.88 percent and MediaTek and Taiwan Cement were unchanged.

The lead from Wall Street is solid as the major averages opened higher on Friday and remained in the green throughout the trading day.

The Dow jumped 176.59 points or 0.50 percent to finish at 35,459.29, while the NASDAQ surged 266.56 points or 1.90 percent to end at 14,316.66 and the S&P 500 advanced 44.82 points or 0.99 percent to close at 4,582.23.

The strength on Wall Street was the result of encouraging earnings updates from top tech firms and data showing a slowdown in the annual rate of growth in consumer prices in June.

Easing worries about interest rates following the Federal Reserve hinting at a pause in hikes as early as September helped as well.

The slowdown in the annual rate of consumer price growth may ease concerns about the outlook for interest rates following Thursday's better-than-expected economic data.

Oil prices climbed higher on Friday, and the most active futures contract posted gains for the fifth straight week amid easing U.S. recession fears and on optimism over increased demand. West Texas Intermediate Crude futures for September added $0.49 or 0.6 percent at $80.58 a barrel. WTI crude futures gained 4.6 percent in the week.

Australian Market Slips To Losses In Mid-market

The Australian stock market is slipping in to the red in mid-market trading on Tuesday after early gains, reversing some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying well below the 8,850 level, with weakness in financial and technology stocks partially offset by gains in mining and energy stocks.

RTTNews | 1小时33分钟前

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from Wall Street overnight, as traders react to further progress made towards ending the US government shutdown, with the US Senate commencing a series of votes on a package to reopen the government and end the longest shutdown on record. Asian markets closed mostly higher on Monday.

RTTNews | 1小时52分钟前

Sensex, Nifty Seen Opening Higher On Trade Deal Hopes

Indian shares look set to open on a positive note Tuesday after U.S. President Donald Trump indicated he would reduce the tariff rate on Indian goods "at some point," and that the U.S. was "pretty close" to a trade deal with New Delhi that's good for everybody.

RTTNews | 2小时24分钟前

Thai Shares Expected To Open To The Upside On Tuesday

The Thai stock market has moved higher in two of three trading days since the end of the five-day losing streak in which it had dropped more than 15 points or 1.2 percent. The Stock Exchange of Thailand now sits just above the 1,305-point plateau and it's called higher again on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead.

RTTNews | 2小时56分钟前

Rebound Tipped For Indonesia Stock Market

The Indonesia stock market on Monday snapped the three-day winning streak in which it had gained almost 160 points or 1.2 percent. The Jakarta Composite Index now sits just above the 8,390-point plateau although it's expected to see renewed support on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The JCI finished slightly lower on Monday as losses from the financials and telecoms were mitigated by support from the resource stocks and a mixed picture from the cement companies. For the day, the index eased 3.35 points or 0.04 percent to finish at the daily low of 8,391.24 after peaking at 8,478.15. Among the actives, Bank CIMB Niaga shed 0.57 percent, while Bank Mandiri fell 0.42 percent, Bank Danamon Indonesia collected 0.40 percent, Bank Negara Indonesia tumbled 1.78 percent, Bank Central Asia skidded 1.15 percent, Bank Rakyat Indonesia slumped 1.26 percent, Indosat Ooredoo Hutchison plunged 3.72 percent, Indocement improved 0.78 percent, Semen Indonesia plummeted 4.17 percent, Indofood Sukses Makmur slipped 0.35 percent, United Tractors rallied 1.36 percent, Energi Mega Persada surged 4.60 percent, Astra Agro Lestari dropped 0.96 percent, Aneka Tambang rose 0.34 percent, Vale Indonesia eased 0.22 percent, Timah soared 6.85 percent, Bumi Resources spiked 6.38 percent and Astra International was unchanged. The lead from Wall Street is solid as the major averages opened higher on Monday and largely spent most of the sessions firmly in positive territory.

RTTNews | 3小时26分钟前

Japanese Market Significantly Higher

The Japanese stock market is trading significantly higher on Tuesday, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 51,350 level, with gains in index heavyweights, financial and technology and stocks.

RTTNews | 3小时39分钟前

Higher Open Predicted For Hong Kong Stock Market

The Hong Kong stock market has moved higher in two of three trading days since the end of the two-day slide in which it had dropped more than 220 points or 0.8 percent. The Hang Seng Index now rests just beneath the 26,650-point plateau and it's expected to open to the upside again on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead.

RTTNews | 3小时41分钟前

Additional Support Likely For China Stock Market

The China stock market bounced higher again on Monday, one session after halting the two-day winning streak in which it had advanced more than 45 points or 1.1 percent. The Shanghai Composite Index now sits just beneath the 4,020-point plateau The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The SCI finished modestly higher on Monday following gains from the financial shares, property stocks and resource companies. For the day, the index gained 21.04 points or 0.53 percent to finish at 4,018.60 after trading between 3,990.84 and 4,018.70. The Shenzhen Composite Index added 10.15 points or 0.40 percent to end at 2,529.44. Among the actives, Industrial and Commercial Bank of China advanced 0.87 percent, while Bank of China rose 0.35 percent, Agricultural Bank of China rallied 2.12 percent, China Merchants Bank added 0.49 percent, Bank of Communications collected 0.82 percent, China Life Insurance jumped 1.95 percent, Jiangxi Copper improved 0.95 percent, Aluminum Corp of China (Chalco) soared 3.26 percent, Yankuang Energy vaulted 1.88 percent, PetroChina strengthened 1.65 percent, China Petroleum and Chemical (Sinopec) fell 0.27 percent, Huaneng Power perked 0.24 percent, China Shenhua Energy gained 0.94 percent, Gemdale spiked 2.33 percent, Poly Developments increased 1.25 percent and China Vanke climbed 1.29 percent.

RTTNews | 3小时56分钟前

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