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Taiwan Bourse Called Flat On Monday

(RTTNews) - The Taiwan stock market rebounded on Friday, one day after it had snapped the three-day winning streak in which it had advanced more than 190 points or 1.8 percent. The Taiwan Stock Exchange now rests just beneath the 10,970-point plateau and it's expected to hold steady in that neighborhood on Monday.

The global forecast for the Asian markets is likely all about inertia, since most of the European and U.S. markets were closed Friday for the long Easter weekend. Little movement is expected for the Asian bourses.

The TSE finished slightly higher on Friday following gains from the financials and cement stocks, while the technologies came in mixed.

For the day, the index was up 6.48 points or 0.06 percent to finish at 10,968.50 after trading between 10,950.43 and 11,045.08.

Among the actives, United Microelectronics Corporation added 0.83 percent, while Hon Hai Precision plunged 2.95 percent, Largan Precision sank 0.97 percent, AsusTek Computer gained 0.85 percent, MediaTek fell 0.34 percent, Catcher Technology rose 0.40 percent, Cathay Financial collected 0.34 percent, Mega Financial eased 0.18 percent, CTBC Financial advanced 0.99 percent, Fubon Financial perked 0.44 percent, First Financial accelerated 0.94 percent, Taishin Financial was up 0.35 percent, Asia Cement gathered 0.61 percent, Taiwan Cement added 0.24 percent, Formosa Plastic picked up 0.46 percent and Taiwan Semiconductor Manufacturing Company was unchanged.

There are precious few catalysts for trade on Monday as the U.S. and most major European was closed for Good Friday. The European markets remain closed for Easter Monday as well, while Wall Street returns to action later today.

The geopolitical scene remained blissfully quiet and many traders are expected to remain away from their desks today, so the Asian markets are setting up for a quiet session.

In U.S. economic news, the Commerce Department reported an unexpected drop in new residential construction and building permits in March.
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