(RTTNews) – The Taiwan stock market snapped a three-day winning streak on Monday in which it had climbed more than 250 points or 1.7%. The Taiwan Stock Exchange is now just below the plateau of 14,940 points and the losses could accelerate on Tuesday. The global outlook for Asian markets is mixed and flat, with support from energy stocks likely offset by weakness in technology companies. European and US markets were mixed on the upside and Asian stock exchanges should follow suit.
The TSE finished barely lower on Monday following the mixed performance of financials and technology stocks.
For the day, the index fell 13.03 points or 0.09% to end at 14,936.33 after trading between 14,851.37 and 14,968.23. Among assets, Cathay Financial was up 1.22%, while Mega Financial was down 1.29%, CTBC Financial was down 0.22%, Fubon Financial was up 1.37%, First Financial was up 0 .97%, E Sun Financial collected 0.34%, Taiwan Semiconductor Manufacturing Company fell 0.70%, United Microelectronics Corporation fell 4.59%, Hon Hai Precision jumped 1.42%, Largan Precision fell 0.26%, MediaTek fell 2.41%, Delta Electronics climbed 1.01%, Formosa Plastics jumped 2.73%, Nan Ya Plastics rose 1.39%, Asia Cement increased by 0.11%. Taiwan Cement gained 0.40% and Catcher Technology was unchanged.
Wall Street’s advance is cautiously bullish as major averages opened flat on Monday, then rebounded throughout the session before ending mixed.
The Dow Jones climbed 90.75 points or 0.28% to end at 31,990.04, while the NASDAQ lost 51.45 points or 0.43% to close at 11,782.67 and the S&P 500 fell. rose 5.14 points or 0.13% to end at 3,966.77.
Trading activity was somewhat subdued as traders anticipate the Federal Reserve’s monetary policy decision on Wednesday.
CME Group’s FedWatch tool currently indicates a 77.5% probability of a 75 basis point interest rate hike and a 22.5% probability of a 100 basis point rate hike.
Crude oil futures rose sharply on Monday as concerns over the outlook for energy demand eased, while dollar weakness ahead of the Fed’s next statement also supported oil prices. raw. West Texas Intermediate crude oil futures for September ended up $2.00 or 2.1% at $96.70 a barrel.
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