Soft Start Anticipated For Taiwan Stock Market

(RTTNews) - The Taiwan stock market headed south again on Friday, one session after ending the four-day losing streak in which it had stumbled more than 200 points or 1.2 percent. The Taiwan Stock Exchange now sits just beneath the 17,370-point plateau and it's expected to open lower again on Monday.

The global forecast for the Asian markets is broadly negative on fears of lockdown measures following the rapid spread of a new COVID variant. The European and U.S. markets were sharply lower and the Asian bourses figure to open in similar fashion.

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

For the day, the index plunged 284.81 points or 1.61 percent to finish at 17,369.39 after trading between 17,330.44 and 17,641.79.

Among the actives, Cathay Financial stumbled 2.27 percent, while Mega Financial slumped 1.74 percent, CTBC Financial dropped 1.00 percent, Fubon Financial eased 0.13 percent, First Financial lost 1.26 percent, E Sun Financial shed 1.08 percent, Taiwan Semiconductor Manufacturing Company skidded 1.16 percent, United Microelectronics Corporation sank 0.79 percent, Hon Hai Precision and Formosa Plastic both retreated 1.43 percent, Largan Precision declined 1.22 percent, Catcher Technology surrendered 2.26 percent, MediaTek tanked 2.90 percent, Delta Electronics tumbled 2.70 percent, Asia Cement dipped 0.24 percent and Taiwan Cement weakened 1.38 percent.
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