Lower Open Anticipated For Taiwan Stock Market
Nasdaq (RTTNews) - The Taiwan stock market on Wednesday ended the three-day winning streak in which hit had improved almost 160 points or 1 percent. The Taiwan Stock Exchange now rests just beneath the 16,740-point plateau and it's likely to open in the red again on Thursday.
The global forecast for the Asian markets is soft on growth and inflation concerns. The European and U.S. markets were down and the Asian bourses are expected to open in similar fashion.
The TSE finished modestly lower on Wednesday following losses among the financial shares, technology stocks and plastic and cement companies.
For the day, the index dropped 53.45 points or 0.32 percent to finish at 16,738.16 after trading between 16,732.69 and 16,841.19.
Among the actives, Cathay Financial declined 1.40 percent, while Mega Financial retreated 1.25 percent, CTBC Financial stumbled 1.46 percent, First Financial shed 0.75 percent, Fubon Financial lost 0.65 percent, E Sun Financial fell 0.61 percent, Taiwan Semiconductor Manufacturing Company fell 0.36 percent, United Microelectronics Corporation rose 0.32 percent, Hon Hai Precision dropped 0.93 percent, Largan Precision tanked 2.08 percent, Catcher Technology climbed 1.39 percent, MediaTek sank 0.84 percent, Delta Electronics skidded 1.00 percent, Novatek Microelectronics improved 0.71 percent, Formosa Plastics weakened 0.98 percent, Nan Ya Plastics surrendered 1.18 percent, Asia Cement slumped 0.99 percent, Taiwan Cement tumbled 1.71 percent and China Steel was down 1.11 percent.
