Taiwan stock market gains positive lead for Thursday’s trading

(RTTNews) – The Taiwanese stock market has risen in two consecutive sessions, gradually amassing more than 150 points, or 0.8 percent. The Taiwan Stock Exchange is now just below the 17,825-point plateau and is tipped to open again in the green on Thursday.

The global outlook for Asian markets remains positive on easing concerns about the Omicron variant of the coronavirus, plus support from crude oil prices. European and US stock markets rose and Asian stock markets are expected to open similarly.

The TSE ended slightly higher on Wednesday after gains from cement stocks and mixed performance from financial and technology stocks.

For the day, the index rose 37.56 points or 0.21 percent to end at 17,826.83 after trading between 17,799.72 and 17,870.16.

Among the actives, Mega Financial fell 0.28 percent, while CTBC Financial took in 0.58 percent, Fubon Financial fell 0.53 percent, E Sun Financial fell 0.18 percent, Taiwan Semiconductor Manufacturing Company added 0.50 percent, United Microelectronics Corporation climbed 1.27 percent, Hon Hai Precision fell 0.96 percent, Largan Precision peaked 2.70 percent, Catcher Technology lost 0.64 percent, MediaTek lost 0.46 percent, Delta Electronics fell 0.19 percent, Formosa Plastic fell 0.48 percent, Asia Cement gained 0.34 percent, Taiwan Cement rose 0.32 percent and Cathay Financial and First Financial were unchanged.

Wall Street’s lead is solid as the big averages shook off a slow start on Wednesday, moved quickly higher and finished in the green.

The Dow rose 261.19 points, or 0.74 percent, to finish at 35,753.89, while the NASDAQ rose 180.81 points, or 1.18 percent, and the S&P 500 climbed 47.33 points, or 1.02 percent, to finish. at 4,696.56.

Markets are taking strength from waning concerns over Omicron and U.S. President Joe Biden’s comments that it may still be possible to strike a deal with Senator Joe Manchin to pass the $2 trillion Build Back Better bill through Congress. Push.

In addition to the positive sentiment, the Conference Board reported that consumer confidence improved much more than expected in December.

Crude oil futures came in sharply higher on Wednesday after data showed a larger-than-expected drop in US crude inventories last week. West Texas Intermediate crude futures for February were up $1.64 or 2.3 percent at $72.76 a barrel.

Closer to home, Taiwan will see November data for industrial production and retail sales later in the day; in October, production rose 11.25 percent year-on-year and sales grew 6.65 percent year-on-year.

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