TAI PEI: Taiwan stock market has ended in the red in three straight trading days, shedding almost 140 points or 1.3 percent in that span. The Taiwan Stock Exchange now rests just shy of the 10,700-point plateau although it may halt its slide on Monday.
The global forecast for the Asian markets is mixed to higher, thanks to bargain hunting after heavy losses last week. The European markets were down, and the U.S. bourses were mostly higher – and the Asian markets figure to follow the latter lead.
The TSE finished modestly lower on Friday following losses from the financial shares, technology stocks and steel producers.
For the day, the index sank 87.62 points or 0.81 percent to finish at 10,698.17 after trading between 10,638.98 and 10,719.29 on turnover of 109.46 billion Taiwan dollars.
Among the actives, Cathay Financial declined 1.11 percent, while Fubon Financial plummeted 2.68 percent, Mega Financial fell 0.60 percent, Largan Precision retreated 0.77 percent, Taiwan Semiconductor Manufacturing Company dropped 1.23 percent, Hon Hai Precision eased 0.11 percent, Nanya Technology shed 0.38 percent, AsusTek Computer lost 0.55 percent, Formosa Plastics skidded 1.47 percent, Taiwan Steel Union dipped 0.38 percent and China Steel tumbled 1.84 percent.
The lead from Wall Street is cautiously optimistic as stocks showed a significant turnaround on Friday after opening lower. The major averages bounced well off their lows of the session, with the NASDAQ and the S&P 500 climbing into positive territory.
