Losses Likely To Accelerate For Taiwan Bourse

(RTTNews) - The Taiwan stock market has moved lower in two straight sessions, sliding more than 110 points or 0.9 percent along the way. The Taiwan Stock Exchange now rests just beneath the 12,800-point plateau and it's predicted to take further damage on Thursday.

The global forecast for the Asian markets suggests major consolidation due to surging coronavirus cases around the world. The European and U.S. markets were sharply lower and the Asian markets figure to follow suit.

The TSE finished modestly lower on Wednesday as losses from the financial shares and technology stocks were countered by support from the cement companies.

For the day, the index sank 81.26 points or 0.63 percent to finish at 12,793.75 after trading between 12,761.33 and 12,879.98.

Among the actives, Mega Financial eased 0.18 percent, while Fubon Financial collected 0.12 percent, First Financial fell 0.49 percent, E Sun Financial dipped 0.20 percent, Taiwan Semiconductor Manufacturing Company shed 0.67 percent, United Microelectronics Corporation tanked 2.54 percent, Hon Hai Precision tumbled 2.12 percent, Largan Precision sank 2.05 percent, Catcher Technology skidded 1.36 percent, MediaTek lost 0.58 percent, Formosa Plastic dropped 1.00 percent, Asia Cement jumped 1.58 percent, Taiwan Cement was up 0.12 percent and Cathay Financial and CTBC Financial were unchanged.
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