Taiwan Stock Market May Extend Losing Streak

(RTTNews) - The Taiwan stock market has finished lower in two straight sessions, sliding more than 150 points or 1 percent along the way. The Taiwan Stock Exchange now sits just above the 15,615-point plateau and it's tipped to open in the red again on Monday.

The global forecast for the Asian markets is negative on disappointing earnings news and ongoing concerns over the spread of the coronavirus. The European and U.S. markets were down and the Asia bourses figure to follow suit.

The STI finished modestly lower on Friday following losses from the financial shares, technology stocks and cement companies.

For the day, the index lost 90.81 points or 0.58 percent to finish at 15,616.39 after trading between 15,615.11 and 16,041.59.

Among the actives, Cathay Financial retreated 1.65 percent, while Mega Financial declined 1.51 percent, CTBC Financial sank 0.76 percent, Fubon Financial surrendered 1.75 percent, First Financial dropped 1.17 percent, E Sun Financial lost 0.79 percent, Taiwan Semiconductor Manufacturing Company jumped 1.52 percent, United Microelectronics Corporation tanked 2.30 percent, Hon Hai Precision shed 0.43 percent, Largan Precision plunged 3.38 percent, Catcher Technology tumbled 2.32 percent, MediaTek skidded 1.28 percent, Formosa Plastic plummeted 2.98 percent, Asia Cement slid 1.76 percent and Taiwan Cement was down 1.41 percent.
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