Taiwan Stock Market May Add To Its Winnings – Markets Insider

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(RTTNews) – The Taiwan stock market has tracked higher in consecutive trading days, advancing almost 80 points or 0.7 percent along the way. The Taiwan Stock Exchange now rests just above the 10,630-point plateau and it may find additional support on Tuesday.

The global forecast for the Asian markets remains positive on optimism that the Federal Reserve will keep interest rates unchanged for the time being. The European and U.S. markets were up and the Asian bourses are expected to follow suit.

The TSE finished modestly higher on Monday as the technology stocks and financial shares were mostly higher.

For the day, the index picked up 51.16 points or 0.48 percent to finish at 10,631.37 after trading between 10,581.81 and 10,642.40 on turnover of 133.67 billion Taiwan dollars.

Among the actives, Advanced Semiconductor Engineering jumped 2.65 percent, while Largan Precision climbed 1.75 percent, United Microelectronics Corporation spiked 2.25 percent, Hon Hai Precision shed 0.87 percent, Taiwan Semiconductor Manufacturing Company gained 0.46 percent, Catcher Technology skidded 1.51 percent, AU Optronics soared 4.82 percent, Innolux surged 6.23 percent, Cathay Financial advanced 1.14 percent, Mega Financial fell 0.42 percent, Fubon Financial collected 0.64 percent, Taiwan Steel lost 0.47 percent and China Steel perked 1.21 percent.

The lead from Wall Street is broadly upbeat as stocks ticked higher on Monday to fresh record closing highs.

The Dow gained 63.01 points or 0.28 percent to 22,331.35, while the NASDAQ gained 6.17 points or 0.10 percent to 6,454.64 and the S&P was up 3.64 points or 0.15 percent to 2,503.87.

Risk appetite continued to pick up thanks to healthy corporate earnings and expectations the U.S Federal Reserve will keep interest rates low at their meeting Tuesday and Wednesday.

In economic news, the National Association of Home Builders noted a bigger than expected drop in homebuilder confidence.

Crude oil futures were flat Monday, hovering near the $50 a barrel mark in quiet trading. WTI light sweet crude oil was down 2 cents at $49.91 a barrel.

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