Taiwan Stock Market May Rebound

The recent past witnessed the Taiwan stock market finish lower in consecutive days. It went down nearly 0.6 percent or 70 points during the last few days. The TSE ended a little lower on May 18 after mixed performances were seen from technology stocks and financial shares. The index slid down 0.03 percent or 2.97 points to end at 10,830.84 post trading between the 10,819.07 to 10,893.35 on a 125,891 billion dollar (Taiwan dollar) turnover.

Mixed world

The Taiwan Stock Exchange now is slightly above a plateau of 10,830 points. There is a possibility that May 21 will be yet another day for more losses. Such downside is forecast for Asian markets. Analysts from all over the globe have expressed pessimism over worldwide trade uncertainties and a stall in the crude oil prices. The American and European markets went a little south on May 18. It is anticipated the Asian markets will repeat a similar performance.

Among actives, Taiwan Semiconductor Manufacturing Company suffered a dip of 1.32 percent. Hon Hai Precision went down by 0.36 percent and Innolux lost about 0.87 percent. Others losers included Cathay Financial dipping 0.91 percent. The list of gainers included Catcher Technology up by 0.29 percent and Largan Precision 2.30 percent. Fubon Financial went north by 0.76 percent and Mega Financial enjoyed an upside of 0.95 percent. Other notable gainers were Taiwan Steel Union by 1.76 percent and China Steel by 0.21 percent. Remaining unchanged was United Microelectronics Corporation.

Up and downs

Wall Street hinted at a mild consolidation as the stocks clearly lacked direction on May 18. There was an extension of the tepid performance noticed during previous sessions. The session ended mixed.  The Dow added 0.01 percent or 1.11 points to finish at 24,715.09. The S&P dropped 0.26 percent or 7.16 points to touch 2,712.97. The Nasdaq went down by 0.38 percent or 28.13 points to scrape 7,354.34. When calculated for the week, both S&P 500 and the Dow dropped 0.5 percent. The Nasdaq went down 0.7 percent.

Wall Street suffered choppy trading as traders were apparently hesitant to make significant moves in the middle of a relaxed day on the American economic front. A few traders were uncertain about the results of trade talks' second round between the United States and China. This was due to President Donald Trump expressing apprehensions about whether the second cycle of talks between China and United States will be successful.

Leave a Comment