Win Streak May End For Taiwan Stock Market
(RTTNews.com) - The Taiwan stock market has ticked higher in consecutive trading days, advancing more than 110 points or 1 percent along the way. The Taiwan Stock Exchange now rests just above the 10,945-point plateau although it may spin its wheels on Tuesday.
The global forecast for the Asian markets is murky amid renewed geopolitical and trade war concerns. The European markets were down and the U.S. markets were mixed and little changed - and the Asian markets figure to split the difference.
The TSE finished slightly higher on Monday following mixed performances from the financial shares and the technology stocks.
For the day, the index gained 14.78 points or 0.14 percent to fin ish at 10,946.89 after trading between 10,901.75 and 10,984.84 on turnover of 146.33 billion Taiwan dollars.
Among the actives, CTBC Financial shed 0.24 percent, while Mega Financial collected 0.19 percent, Taiwan Semiconductor Manufacturing Company jumped 1.47 percent, Hon Hai Precision added 0.23 percent, Largan Precision tumbled 1.80 percent, AsusTek Computer perked 0.38 percent, United Microelectronics spiked 2.24 percent, MediaTek plunged 3.04 percent, Formosa Plastics added 0.93 percent, Chunghwa Telecom plummeted 4.48 percent and China Steel, Cathay Financial and Fubon Financial were unchanged.
The lead from Wall Street offers little guidance as stocks continued to show a lack of direction on Monday.
The Dow dipped 13.83 points or 0.06 percent to 25,044.29, while the NASDAQ rose 12.67 points or 0.28 percent to 7,841.87 and the S&P 500 inched up 5.15 points or 0.18 percent to 2,806.98.
The choppy trading followed barb s between U.S. President Donald Trump and Iran, which fueled the geopolitical concerns - along with ongoing trade war fears.
In economic news, the National Association of Realtors reported an unexpected drop in existing home sales in June.
Oil service stocks saw the biggest losses, while gold and housing stocks also moved to the downside. Significant strength was visible among financial and steel stocks.
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This article appears in: Politics , World Markets , US Markets , StocksSource: Google News Taiwan | Netizen 24 Taiwan