Taiwan stock exchange could stop the bleeding on Thursday
(RTTNews) – Taiwan’s stock market has fallen in two consecutive sessions, falling more than 450 points or 2.9% along the way. The Taiwan Stock Exchange now sits just above the 16,850 point plateau, although it sees a stable start on Thursday.
Global forecasts for Asian markets are cautiously optimistic, although the rise may be limited by weakness in oil and tech stocks. European markets were up and US stock markets were mixed and Asian markets were counting to divide the difference.
The TSE ended sharply lower on Wednesday with damage at all levels, especially from financial and tech stocks.
For the day, the index plunged 325.98 points or 1.90% to end at 16,855.46 after trading between 16,801.78 and 17,127.86.
Among assets, Cathay Financial fell 1.69%, while Mega Financial lost 1.08%, CTBC Financial lost 0.66%, Fubon Financial lost 1.03%, E Sun Financial fell 0 , 19%, Taiwan Semiconductor Manufacturing Company fell 2.36%, United Microelectronics Corporation fell 3.52%. , Hon Hai Precision was down 1.41%, Largan Precision was down 2.03%, Catcher Technology was down 1.78%, MediaTek fell 4.60%, Delta Electronics slipped 1.58%, Formosa Plastic fell 0.44%, Asia Cement slipped 1.19%, Taiwan Cement fell 0.78% and First Financials remained unchanged.
Wall Street’s lead is mixed as the main averages opened up on Wednesday; the Dow Jones and the S&P remained in the green throughout the session but the NASDAQ ended up underwater.
The Dow Jones climbed 90.73 points or 0.26% to close at 34,390.72, while the NASDAQ lost 34.24 points or 0.24% to close at 14,512.44 and the S&P 500 lost increased 6.83 points or 0.16% to end at 4,359.46.
The volatility on Wall Street came as traders kept a close watch on bond markets following the recent surge in Treasury yields. Stocks initially benefited from lower yields, prompting traders to look for the bargains – but yields edged up during the session, with the ten-year yield hitting a new three-month closing high .
The rally in yields came after Federal Reserve Chairman Jerome Powell warned inflation could be delayed longer than previously thought due to supply chain issues.
On the US economic front, the National Association of Realtors reported that pending home sales skyrocketed more than expected in August.
Crude oil futures moved lower on Wednesday, weighed down by a stronger dollar and an increase in US crude inventories last week. West Texas Intermediate crude oil futures for November fell $ 0.46 or 0.6% to $ 74.83 a barrel.
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