Taiwan Bourse Poised To End Losing Streak
The Taiwan stock market has moved lower in three straight sessions, surrendering more than 210 points or 1.4 percent along the way. The Taiwan Stock Exchange now rests just above the 16,575-point plateau although it may stop the bleeding on Monday.
The global forecast for the Asian markets is cautiously optimistic, with bargain hunting expected to support the more oversold bourses. The European and U.S. markets were up and the Asian markets figure to open in similar fashion.
The TSE finished modestly lower on Friday as losses from the cement and technology stocks were offset by support from the financial and plastics companies.
For the day, the index fell 43.08 points or 0.26 percent to finish at 16,576.02 after trading between 16,505.64 and 16,609.93.
Among the actives, Cathay Financial rallied 1.31 percent, while Mega Financial improved 0.70 percent, CTBC Financial jumped 1.91 percent, First Financial collected 0.38 percent, Fubon Financial advanced 0.98 percent, Taiwan Semiconductor Manufacturing Company and Catcher Technology both shed 0.55 percent, United Microelectronics Corporation eased 0.11 percent, Hon Hai Precision added 0.47 percent, Largan Precision plummeted 4.11 percent, MediaTek skidded 1.12 percent, Delta Electronics dropped 0.87 percent, Novatek Microelectronics rose 0.12 percent, Formosa Plastics climbed 0.98 percent, Nan Ya Plastics gained 0.45 percent, Asia Cement dipped 0.13 percent, Taiwan Cement sank 0.73 percent, China Steel lost 0.57 percent and E Sun Financial was unchanged.