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Taiwan Stock Market Poised To Snap Losing Streak

(RTTNews) - The Taiwan stock market has finished lower in back-to-back trading days, sliding more than 100 points or 0.8 percent along the way. The Taiwan Stock Exchange now rests just shy of the 12,730-point plateau although it may stop the bleeding on Monday.

The global forecast for the Asian markets suggests mild upside on optimism for economic recovery, although a rising number of coronavirus cases may limit the upside. The European markets were down on Friday and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The TSE finished modestly lower on Friday following losses from the technology stocks and cement companies, while the financials came in mixed.

For the day, the index sank 68.46 points or 0.53 percent to finish at 12,728.85 after trading between 12,674.57 and 12,799.16.

Among the actives, Cathay Financial eased 0.12 percent, while Fubon Financial collected 0.46 percent, First Financial added 0.71 percent, Taiwan Semiconductor Manufacturing Company tumbled 2.03 percent, United Microelectronics Corporation fell 0.23 percent, Largan Precision skidded 1.16 percent, Catcher Technology jumped 1.72 percent, MediaTek rallied 2.87 percent, Asia Cement lost 0.47 percent, Taiwan Cement dropped 0.80 percent and Mega Financial, CTBC Financial, E Sun Financial, Hon Hai Precision and Formosa Plastic all were unchanged.
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