Taiwan Bourse Tipped To Open In The Green
(RTTNews) - The Taiwan stock market rebounded on Friday, one session after it had snapped the three-day winning streak in which it had advanced more than 130 points or 1.3 percent. The Taiwan Stock Exchange now rests just beneath the 10,440-point plateau and it has a positive lead again for Monday.
The global forecast for the Asian markets is upbeat on an improved outlook for global trade. The European and U.S. markets were up and the Asian markets are tipped to open in similar fashion.
The TSE finished modestly higher on Friday following gains from the financials and cement stocks, while the technology shares were mixed.
For the day, the index rose 90.59 points or 0.88 percent to finish at the daily high of 10,439.24 after moving as low as 10,370.00.
Among the actives, Mega Financial collected 0.55 percent, while Taishin Financial picked up 0.73 percent, First Financial fell 0.48 percent, CTBC Financial gained 0.49 percent, Cathay Financial added 0.78 percent, Taiwan Semiconductor Manufacturing Company jumped 1.92 percent, United microelectronics climbed 1.75 percent, Hon Hai Precision slid 0.70 percent, Largan Precision plunged 3.03 percent, Catcher Technology advanced 0.88 percent, Asia Cement perked 0.26 percent, Taiwan Cement rose 0.13 percent, Formosa Plastic gathered 1.44 percent and Fubon Financial and AsusTek Computer were unchanged.
The lead from Wall Street is positive as stocks moved gradually higher through the course of Friday's trade, with the NASDAQ and the S&P 500 hitting five-month closing highs.
The Dow added 138.98 points or 0.54 percent to 25,848.87, while the NASDAQ gained 57.62 points or 0.76 percent to 7,688.53 and the S&P 500 rose 14.00 points or 0.50 percent to 2,822.48. For the week, the Dow gained 1.6 percent, the NASDAQ advanced 3.8 percent and the S&P rose 2.9 percent.
The strength on Wall Street came amid optimism on U.S.-China trade talks and indications of Chinese economic stimulus after Chinese Premier Li Keqiang pledged support for the fading economy.
In U.S. economic news, the Federal Reserve said industrial production rose less than expected in February. Also, the New York Fed noted an unexpected slowdown in regional manufacturing growth in March.
Crude oil futures ended slightly lower on Friday, snapping a four-session winning streak, as traders chose to take profits. West Texas Intermediate Crude oil futures for April ended down $0.09 or 0.2 percent at $58.52 a barrel.