Taiwan Stock Market Predicted to Stop Slide on Thursday

(RTTNews) – Taiwan’s stock market has ended lower in five consecutive sessions, falling nearly 400 points, or 2.3 percent, along the way. The Taiwan Stock Exchange is now resting just above the 17,225-point plateau, although it should gain support on Thursday.

The global outlook for Asian markets is positive about rising oil prices and optimism about the outlook for interest rates. European markets were up and US markets were mixed and Asian markets share the difference.

The TSE ended modestly lower on Wednesday after a mixed performance from technology and cement stocks, while financials rose.

For the day, the index lost 96.46 points or 0.56 percent to finish at 17,227.18 after trading between 17,090.25 and 17,327.20.

Among the actives, Cathay Financial rose 2.00 percent, while Fubon Financial rose 4.21 percent, First Financial rallied 0.43 percent, Taiwan Semiconductor Manufacturing Company fell 0.17 percent, United Microelectronics Corporation rose 0.17 percent, Hon Hai Precision added 0.46 percent, Largan Precision fell 1.09 percent, Catcher Technology rose 2.31 percent, MediaTek slipped 1.30 percent, Delta Electronics improved 0.72 percent, Formosa Plastic improved 1.01 percent, Asia Cement rose 0.11 percent, Taiwan Cement fell 1.54 percent and Mega Financial, CTBC Financial and E Sun Financial were unchanged.

Wall Street’s lead has been mixed all week and Wednesday was no exception. All three major averages opened upwards and the Dow and S&P stayed that way to reach new all-time highs; the NASDAQ quickly moved south and ended in the red.

The Dow rose 220.30 points or 0.62 percent to end at 35,484.97, while the NASDAQ fell 22.95 points or 0.16 percent to close at 14,765.13 and the S&P rose 10.95 points or 0.25 percent to end at 4,447.70.

The mixed performance came after the Labor Department’s long-awaited inflation reading wasn’t bad as some had feared, slowing to 0.5 percent from 0.9 percent in June – suggesting the central bank may not be in a hurry to lift the stimulus. to screw back.

The recent resurgence in coronavirus cases could also weigh on the economy, causing the Fed to delay winding down plans and keep inventories climbing to record highs.

Crude oil futures moved higher on Wednesday and recovered well after an early setback after the Biden administration said it would not ask US oil producers to increase production. West Texas Intermediate Crude Oil futures for September finished $0.96 or 1.4 percent at $69.25 a barrel.

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