Taiwan Stock Exchange May Boost Earnings Wednesday

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(RTTNews) – Taiwan’s stock market rebounded on Tuesday, a session after halting a two-day winning streak in which it jumped more than 430 points, or 2.6%. The Taiwan Stock Exchange is now just above the 16,900 point plateau and is expected to open in the green again on Wednesday.

Global forecasts for Asian markets are optimistic, supported by strong earnings expectations and rising crude oil prices. European markets were mixed and US stock markets were up and Asian markets were counting to divide the difference.

The TSE ended sharply higher on Tuesday after gains in tech stocks and a mixed picture in financial stocks.

For the day, the index jumped 195.21 points or 1.17 percent to end at 16,900.67 after trading between 16,772.15 and 16,916.72.

Among assets, Cathay Financial lost 0.51%, while Mega Financial fell 0.61%, CTBC Financial fell 0.22%, Fubon Financial fell 0.40%, First Financial collected 0 , 44%, E Sun Financial rose 0.19%, Taiwan Semiconductor Manufacturing Company climbed 1.69%. , United Microelectronics Corporation jumped 2.05%, Hon Hai Precision lost 0.47%, Largan Precision rose 3.02%, Catcher Technology rose 0.93%, MediaTek jumped 3.58% , Delta Electronics jumped 3.81%, Formosa Plastic fell 0.87%, Asia Cement fell 0.66%, and Taiwan Cement fell 1.41%.

Wall Street’s lead is generally positive as major averages opened higher on Tuesday and remained solidly in the green throughout the session.

The Dow Jones climbed 198.70 points or 0.56% to close at 35,457.31, while the NASDAQ jumped 107.28 points or 0.71% to close at 15,129.09 and the S&P 500 gained 33.17 points or 0.74% to finish at 4,519.63.

Upbeat earnings news from insurance giant Travelers Companies Inc. (TRV), Johnson & Johnson (JNJ), Procter & Gamble (PG) and Netflix (NFLX) boosted morale.

Economically, the Commerce Department noted an unexpected drop in new residential construction in the United States in September.

Crude oil prices rose on Tuesday amid rising demand for fuel oil and diesel fuel due to a severe energy crisis in China and several parts of Europe. West Texas Intermediate crude oil futures for November ended up $ 0.52 or 0.6% at $ 82.96 a barrel.

Closer to home, Taiwan will provide September’s figures for export orders later today, with forecasts suggesting a 17.0% jump after rising 17.6% in August.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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