Losses May Accelerate For Taiwan Stock Market

The Taiwan stock market on Tuesday snapped the eight-day winning streak in which it had surged more than 710 points or 5.7 percent. The Taiwan Stock Exchange now rests just beneath the 12,950-point plateau and it may extend its losses on Wednesday.

The global forecast for the Asian markets is soft on profit taking and on concerns for a COVID-19 vaccine. The European and U.S. markets were down and the Asian bourses figure to follow suit.

The TSE finished slightly lower on Tuesday following losses from the financials and cement companies, while the technology stocks were mixed.

For the day, the index dipped 8.78 points or 0.07 percent to finish at 12,947.13 after trading between 12,857.10 and 12,994.66.

Among the actives, Cathay Financial lost 0.39 percent, while Mega Financial slid 0.35 percent, CTBC Financial sank 0.55 percent, First Financial shed 0.48 percent, E Sun Financial dropped 0.79 percent, Taiwan Semiconductor Manufacturing Company added 0.43 percent, United Microelectronics Corporation tumbled 1.56 percent, Hon Hai Precision rose 0.25 percent, Largan Precision plunged 3.88 percent, MediaTek tanked 2.10 percent, Formosa Plastic and Asia Cement both fell 0.37 percent, Taiwan Cement skidded 1.10 percent and Catcher Technology and Fubon Financial were unchanged.

The lead from Wall Street is negative as stocks opened lower and largely remained that way, finishing in the red after three straight sessions of gains.

The Dow sank 157.71 points or 0.55 percent to finish at 28,679.81, while the NASDAQ slid 12.36 points or 0.10 percent to end at 11,863.90 and the S&P 500 fell 22.29 points or 0.63 percent to close at 3,511.93.

The pullback on Wall Street may partly have reflected profit taking after the major averages climbed to their best closing levels in over a month on Monday.

Negative sentiment was also generated in reaction to news that

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