(RTTNews) – The Taiwan stock market had moved higher in six straight sessions, surging more than 500 points or 4 percent along the way. The Taiwan Stock Exchange now rests just beneath the 12,750-point plateau and it’s expected to open in the green again on Thursday.
The global forecast for the Asian markets suggests a higher open on renewed stimulus hopes, although some of the overbought bourses may see profit taking as the day progresses. The European markets were mixed and the U.S. bourses were firmly higher and the Asian markets figure to split the difference.
The TSE finished modestly higher on Wednesday as gains from the technology stocks were limited by weakness from the financials and cement companies.
For the day, the index added 42.14 points or 0.33 percent to finish at 12,746.37 after trading between 12,619.81 and 12,774.36.
Among the actives, Cathay Financial eased 0.13 percent, while CTBC Financial sank 1.08 percent, Fubon Financial dropped 0.84 percent, First Financial slid 0.72 percent, E Sun Financial fell 0.58 percent, Taiwan Semiconductor Manufacturing Company added 0.80 percent, United Microelectronics Corporation soared 4.06 percent, Hon Hai Precision shed 0.51 percent, Catcher Technology climbed 1.13 percent, MediaTek surged 5.20 percent, Formosa Plastic lost 0.49 percent, Asia Cement retreated 1.44 percent, Taiwan Cement was down 0.60 percent and Largan Precision and Mega Financial were unchanged.
The lead from Wall Street is broadly positive as stocks opened higher on Monday and stayed that way throughout the session, offsetting losses from the previous day.
The Dow spiked 530.70 points or 1.91 percent to finish at 28,303.46, while the NASDAQ jumped 210.00 points or 1.88 percent to end at 11,364.60 and the S&P 500 rallied 58.49 points or 1.74 percent to close at 3,419.44.
The rebound on Wall Street comes after President Donald Trump indicated he