(RTTNews) – The Taiwan stock market has climbed higher in three straight, advancing more than 215 points or 2.2 percent along the way. The Taiwan Stock Exchange now rests just beneath the 9,885-point plateau and it could test the 10,000-point mark on Thursday.
The global forecast for the Asian markets is firm thanks to renewed optimism over the outlook for interest rates. The European markets were flat and the U.S. bourses were sharply higher and the Asian markets figure to follow the latter lead.
The TSE finished sharply higher on Wednesday following gains from the cement stocks, airlines and technology companies.
For the day, the index jumped 105.69 points or 1.08 percent at 9,884.31 after trading between 9,767.14 and 9,890.89 on turnover of 126.84 billion Taiwan dollars.
Among the actives, China Airlines surged 6.31 percent, while EVA Airways soared 4.90 percent, Asia Cement climbed 2.32 percent, Taiwan Cement gathered 1.64 percent, Taiwan Semiconductor Manufacturing Company climbed 1.12 percent, AsusTek Computer advanced 1.61 percent, AU Optronics added 0.79 percent, Hon Hai Precision spiked 3.39 percent, Largan Precision shed 0.29 percent, Cathay Financial and Fubon Financial both lost 0.51 percent, Mega Financial collected 0.77 percent, Formosa Plastic perked 1.01 percent and Chunghwa Telecom, CTBC Financial and United Microelectronics Corporation were unchanged.
The lead from Wall Street is broadly positive as stocks opened higher Wednesday and the gains for the major averages accelerated in afternoon trade.
The Dow surged 617.70 points or 2.50 percent to 25,366.43, while the NASDAQ soared 208.89 points or 2.95 percent to 7,291.59 and the S&P jumped 61.61 points or 2.30 percent to 2,743.78.
The surge from Wall Street followed dovish remarks from Federal Reserve Chairman Jerome Powell, who said interest rates are still low by historical standards and said rates are currently “just below the broad range of