The Taiwan stock market on Wednesday wrote a finish to the two-day winning streak in which it had collected more than 450 points or 1.7 percent. The Taiwan Stock Exchange now sits just beneath the 27,650-point plateau and it’s expected to open under pressure again on Thursday.
The global forecast for the Asian markets is soft on concerns over relations between the United States and China, while tech shares are also likely to be weak. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to follow the latter lead.
The TSE finished modestly lower on Wednesday following mixed performances from the financial shares and technology stocks.
For the day, the index sank 103.50 points or 0.37 percent to finish at 27,648.91 after trading between 27,490.89 and 27,725.83.
Among the actives, Cathay Financial and Fubon Financial both rose 0.16 percent, while Mega Financial dipped 0.12 percent, First Financial collected 0.69 percent, E Sun Financial added 0.31 percent, Taiwan Semiconductor Manufacturing Company retreated 1.35 percent, United Microelectronics Corporation perked 0.11 percent, Hon Hai Precision rallied 1.46 percent, Largan Precision spiked 2.44 percent, Catcher Technology jumped 1.53 percent, MediaTek sank 0.75 percent, Novatek Microelectronics improved 0.84 percent, Formosa Plastics climbed 1.30 percent, Nan Ya Plastics advanced 1.07 percent, Asia Cement gained 0.95 percent and CTBC Financial and Delta Electronics were unchanged.
The lead from Wall Street is weak as the major averages opened flat but gradually turned lower as the day progressed and finished solidly under water.
The Dow stumbled 334.33 points or 0.71 percent to finish at 46,590.41, while the NASDAQ sank 213.27 points or 0.93 percent to end at 22,740.40 and the S&P 500 slumped 35.95 points or 0.53 percent to close at 6,699.40.
The slump by the tech-heavy NASDAQ was partly due to a steep drop by shares of Netflix (NFLX) and Texas Instruments (TXN) after disappointing earnings news.
The major averages fell to their lows of the session following reports that the Trump administration is considering a plan to curb an array of software-powered exports to China.
Crude oil prices surged on Wednesday on news that the proposed U.S.-Russia summit to discuss the Russia-Ukraine war has been shelved. West Texas Intermediate crude for December delivery was up $1.28 or 2.24 percent at $58.52 per barrel.
Closer to home, Taiwan will see September numbers for industrial production later today; in August, production was up 14.41 percent.
Market Analysis
More Pain Predicted For Taiwan Stock Market
2025-10-23 00:29:43
