The Taiwan stock market has moved higher in three straight sessions, gathering more than 240 points or 1.4 percent along the way. The Taiwan Stock Exchange now sits just beneath the 17,700-point plateau and it's expected to extend its gains again on Wednesday.
The global forecast for the Asian is upbeat on solid economic data and support from the technology stocks. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.
The TSE finished modestly higher on Tuesday following gains from the financials and a mixed picture from the technology and cement stocks.
For the day, the index gained 58.66 points or 0.33 percent to finish at 17,693.13 after trading between 17,629.80 and 17,708.10.
Among the actives, Cathay Financial collected 0.50 percent, while Mega Financial gained 0.74 percent, CTBC Financial perked 0.21 percent, First Financial added 0.43 percent, E Sun Financial eased 0.18 percent, Taiwan Semiconductor Manufacturing Company rose 0.33 percent, United Microelectronics Corporation shed 0.63 percent, Largan Precision fell 0.24 percent, MediaTek advanced 0.98 percent, Delta Electronics retreated 1.54 percent, Formosa Plastic sank 0.47 percent, Asia Cement slid 0.33 percent, Taiwan Cement was up 0.10 percent and Hon Hai Precision, Catcher Technology and Fubon Financial were unchanged.
The lead from Wall Street is positive as the major averages opened higher on Tuesday and remained in the green throughout the session.
The Dow added 54.77 points or 0.15 percent to finish at 36,142.22, while the NASDAQ jumped 120.01 points or 0.76 percent to close at 15,973.86 and the S&P 500 rose 18.10 points or 0.39 percent to end at 4,700.90.
The strength on Wall Street reflected a positive reaction to some upbeat U.S. economic data, including a Commerce Department report showing retail sales spiked more than expected in October.
The Federal Reserve also released a report showing industrial production rebounded by much more than expected in October.
Crude oil futures settled lower on Tuesday, weighed down by a forecast by the International Energy Agency that global crude output will rise and help ease tight supplies. West Texas Intermediate Crude oil futures for December ended lower by $0.12 or 0.2 percent at $80.76 a barrel.
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