The Taiwan stock market on Thursday ended the two-day losing streak in which it had given up more than 640 points or 2.3 percent. The Taiwan Stock Exchange now sits just beneath the 27,900-point plateau although it’s expected to open under water on Friday.
The global forecast for the Asian bourse is negative, with technology and oil shares likely to lead the markets lower. The European and U.S. markets were solidly lower and the Asian bourses figure to follow that lead.
The TSE finished modestly higher on Thursday following gains from the plastics and cement companies, weakness from the financials and a mixed performance from the technology stocks.
For the day, the index improved 182.39 points or 0.66 percent to finish at 27,899.45 after trading between 27,879.70 and 28,061.53.
Among the actives, Cathay Financial dipped 0.17 percent, while Mega Financial dropped 0.86 percent, CTBC Financial eased 0.16 percent, Fubon Financial collected 1.32 percent, E Sun Financial slumped 1.16 percent, Taiwan Semiconductor Manufacturing Company rose 0.34 percent, United Microelectronics Corporation tanked 2.76 percent, Hon Hai Precision added 0.40 percent, Largan Precision gained 0.45 percent, Catcher Technology strengthened 1.49 percent, MediaTek plunged 3.01 percent, Delta Electronics climbed 1.14 percent, Novatek Microelectronics tumbled 1.91 percent, Formosa Plastics rallied 1.36 percent, Nan Ya Plastics jumped 1.59 percent, Asia Cement advanced 0.84 percent and First Financial was unchanged.
The lead from Wall Street is weak as the major averages opened in the red on Thursday and spent the entire session under water, finishing near daily lows.
The Dow stumbled 398.70 points or 0.84 percent to finish at 46,912.30, while the NASDAQ plunged 445.80 points or 1.90 percent to close at 23,053.99 and the S&P 500 sank 75.97 points or 1.12 percent to end at 6,720.32.
The sharp pullback on Wall Street came on renewed weakness among artificial intelligence-related stocks, which led the sell-off on Tuesday. Concerns about an AI bubble and the possibility of a near-term correction have recently weighed on investors’ minds.
Negative sentiment may also have been generated in reaction to a report from global outplacement firm Challenger, Gray & Christmas showing a sharp increase in layoff announcements in the month of October.
Crude oil prices fell Thursday on oversupply concerns after the American Petroleum Institute revealed that U.S. crude oil inventories increased much more than expected last week. West Texas Intermediate crude for December delivery was down $0.21 or 0.35 percent at $59.39 per barrel.
Closer to home, Taiwan will see October data for imports, exports and trade balance later today. In September, imports surged 25.1 percent on year and exports soared an annual 33.8 percent for a trade surplus of $12.40 billion.
Market Analysis
Taiwan Stock Market May Hand Back Thursday’s Gains
2025-11-07 00:30:16
