Tech Shares Likely To Weigh On Taiwan Stocks

The win streak has reached five sessions now for the Taiwan stock market, which has advanced more than 410 points or 4.3 percent along the way. The Taiwan Stock Exchange now rests just above the 9,900-point plateau although it may be stuck in neutral on Monday.

The global forecast for the Asian markets is soft, with technology stocks expected to weigh amid profit taking and concerns over the outlook for interest rates. The European markets were mixed and the U.S. bourses were down and the Asian markets are tipped to follow the latter lead.

The TSE finished modestly higher on Friday following gains from the financial and cement sectors, while the technology stocks were mixed.

For the day, the index gained 61.85 points or 0.63 percent to finish at the daily high of 9,906.59 after moving as low as 9,817.29 on turnover 152.13 billion Taiwan dollars.

Among the actives, Taiwan Semiconductor Manufacturing Company added 0.42 percent, while United Microelectronics shed 0.42 percent, Largan Precision surged 5.70 percent, Hon Hai Precision jumped 1.38 percent, AU Optronics dipped 0.43 percent, Taiwan Cement gathered 2.24 percent, Asia Cement added 2.40 percent, China Steel was up 0.42 percent, CTBC Financial accelerated 2.21 percent, Cathay Financial climbed 1.54 percent, Mega Financial advanced 1.55 percent, Fubon Financial collected 1.24 percent, First Financial picked up 1.29 percent and AsusTek Computer was unchanged.

The lead from Wall Street is soft as stocks shrugged off a positive open, moving lower as the day progressed and ending in the red.

The Dow fell 109.91 points or 0.43 percent to 25,270.83, while the NASDAQ slumped 77.06 points or 1.04 percent to 7,356.99 and the S&P slid 17.31 points or 0.63 percent to 2,723.06. For the week, the NASDAQ surged 2.6 percent, and the Dow and the S&P both jumped 2.4 percent.

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