Taiwan Shares Expected To Remain In Neutral On Friday

(RTTNews) - The Taiwan stock market on Thursday ended the two-day losing streak in which it had given away more than 150 points or 1.5 percent. The Taiwan Stock Exchange now rests just above the 10,775-point plateau and it's expected to see little movement on Friday.

The global forecast for Asian markets is mixed and flat ahead of U.S. employment data due out later today. The European markets were little changed and the U.S. markets were closed for Independence Day and the Asian markets figure to see little movement.

The TSE finished modestly higher on Thursday as gains from the financials and technology stocks were capped by weakness from the cement companies.

For the day, the index gained 32.13 points or 0.30 percent to finish at 10,775.90 after trading between 10,750.90 and 10,791.28.

Among the actives, Cathay Financial collected 0.59 percent, while Mega Financial was up 0.16 percent, CTBC Financial added 0.23 percent, Fubon Financial perked 0.57 percent, First Financial climbed 0.22 percent, Taishin Financial gained 0.35 percent, Taiwan Semiconductor Manufacturing Company added 0.62 percent, United Microelectronics Corporation added 0.71 percent, Hon Hai Precision rose 0.26 percent, Largan Precision shed 0.38 percent, AsusTek Computer jumped 1.56 percent, Catcher Technology advanced 0.90 percent, MediaTek gained 0.47 percent, Asia Cement sank 0.83 percent, Taiwan Cement lost 0.76 percent and Formosa Plastic fell 0.48 percent.

There is no lead from Wall Street today, although the major European markets ended subdued on Thursday with investors making some cautious moves.

The sentiment remained positive amid Fed rate cut hopes and on news that top representatives from the United States and China are arranging to resume talks next week to try to resolve a year-long trade war between the world's two largest economies.

Investors will be looking ahead to closely watched non-farm payroll data later today, with forecasts suggesting an increase of 163,000 jobs. A weaker reading would lend further support to the argument for a rate cut.

Crude oil prices fell on Thursday amid reports of an increase in production. West Texas Intermediate sank $0.67 or 1.17 percent to $56.67.
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