Taiwan Stock Market Poised To Add To Its Winnings

The Taiwan stock market bounced higher again on Thursday, one session after it had ended the two-day winning streak in which it had climbed almost 150 points or 1.4 percent. The Taiwan Stock Exchange now rests just beneath the 11,035-point plateau and it’s called higher again on Friday.

The global forecast for the Asian markets is firm, with support expected from the oil and technology stocks. The European and U.S. markets were up and the Asian bourses are tipped to follow suit.

The TSE finished modestly higher on Thursday following gains from the financial shares, technology stocks and cement companies.

For the day, the index advanced 60.00 points or 0.55 percent to finish at 11,034.19 after trading between 10,961.27 and 11,051.09 on turnover of 122.88 billion Taiwan dollars.

Among the actives, Taiwan Cement gathered 0.88 percent, while Asia Cement soared 2.40 percent, Formosa Plastic was up 2.18 percent, Taiwan Semiconductor Manufacturing Company added 0.57 percent, AU Optronics advanced 1.56 percent, Hon Hai Precision jumped 1.81 percent, Largan Precision gained 0.27 percent, United Microelectronics Corporation picked up 0.31 percent, AsusTek Computer perked 0.96 percent, First Financial collected 0.72 percent, Cathay Financial shed 0.38 percent, Fubon Financial climbed 1.76 percent, CTBC Financial spiked 2.68 percent and China Steel, MediaTek and Mega Financial were unchanged.

The lead from Wall Street is upbeat as stocks opened higher on Thursday. They faded slightly in the afternoon but still finished firmly in the green.

The Dow added 54.65 points or 0.21 percent to 26,439.93, while the NASDAQ gained 51.60 points or 0.65 percent to 8,041.97 and the S&P was up 8.03 points or 0.28 percent to 2,914.00.

A notable advance by shares of Apple (AAPL) contributed to the higher close on Wall Street after J.P. Morgan initiated coverage of the company’s stock with an Overweight rating.

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