Losing Streak May Continue For Taiwan Stock Market

(RTTNews) - The Taiwan stock market has moved lower in back-to-back trading days, sliding almost 170 points or 1.4 percent along the way. The Taiwan Stock Exchange now sits just above the 12,300-point plateau and it may take further damage on Monday.

The global forecast for the Asian markets is soft on rising tensions between the United States and China. The European and U.S. markets were down and the Asian bourses figure to open in similar fashion.

The TSE finished modestly lower on Friday following losses from the financial shares and cement companies, while the technology stocks were mixed.

For the day, the index sank 108.96 points or 0.88 percent to finish at 12,304.04 after trading between 12,266.55 and 12,502.84.

Among the actives, Cathay Financial lost 0.62 percent, while Mega Financial declined 1.68 percent, CTBC Financial skidded 1.27 percent, Fubon Financial surrendered 1.64 percent, First Financial sank 0.64 percent, E Sun Financial slid 0.52 percent, Taiwan Semiconductor Manufacturing Company climbed 1.18 percent, United Microelectronics Corporation spiked 2.60 percent, Hon Hai Precision tanked 2.56 percent, Largan Precision tumbled 1.94 percent, Catcher Technology retreated 2,27 percent, MediaTek fell 0.30 percent, Formosa Plastic shed 0.50 percent, Asia Cement eased 0.12 percent and Taiwan Cement was down 1.32 percent.
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