Taiwan Shares Predicted To End Losing Streak
(RTTNews.com) - The Taiwan stock market has finished lower in consecutive trading days, surrendering more than 80 points or 0.8 percent along the way. The Taiwan Stock Exchange now rests just beneath the 9,825-point plateau although it may stop the bleeding on Wednesday.
The global forecast for the Asian markets is flat to higher ahead of election results in the United States. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.
The TSE finished modestly lower on Tuesday following losses from the cement stocks and mixed performances from the financial shares and technology companies.
For the day, the inde x dropped 64.86 points or 0.66 percent to finish at 9,824.95 after trading between 9,782.86 and 9,899.97 on turnover of 116.88 billion Taiwan dollars.
Among the actives, Cathay Financial shed 0.40 percent, while E. Sun Financial collected 0.24 percent, Mega Financial eased 0.19 percent, Fubon Financial climbed 1.22 percent, Taiwan Cement fell 0.71 percent, Asia Cement dipped 0.15 percent, AU Optronics spiked 2.15 percent, Taiwan Semiconductor Manufacturing Company shed 0.21 percent, United Microelectronics Corporation jumped 1.40 percent, Largan Precision plunged 6.26 percent, Hon Hai Precision tumbled 3.28 percent, AsusTek Computer gained 0.86 percent, Catcher Technology plummeted 7.93 percent, Chunghwa Telecom added 0.47 percent and CTBC Financial, Formosa Plastic and China Steel were unchanged.
The lead from Wall Street is positive as stocks fluctuated on Tuesday but maintained an upward bias and finished in the green.
The Dow added 173.3 1 points or 0.68 percent to 25,635.01, while the NASDAQ gained 47.11 points or 0.64 percent to 7,375.96 and the S&P was up 17.14 points or 0.63 percent to 2,755.45.
The strength on Wall Street came as stocks continued to recover from the sell-off seen in October, which was one of the worst months for the markets in years.
However, traders seemed reluctant to make more significant moves amid uncertainty about the outcome of the midterm elections - which will decide control of the House and the Senate and have a major impact on President Donald Trump's ability to enact his pro-business agenda.
Traders also looked ahead to Thursday's Federal Reserve's monetary policy announcement. The Fed is widely expected to leave interest rates unchanged, but traders will keep a close eye on the accompanying statement for clues about an expected rate hike in December.
Crude oil prices fell again on Tuesday, extending their sl ide to a seventh successive session on prospects of a drop in demand amid uncertainty about global economic growth. Crude oil futures for December ended down $0.89 or 1.4 percent at $62.21 a barrel.
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This article appears in: World Markets , Banking and Loans , US Markets , StocksSource: Google News Taiwan | Netizen 24 Taiwan