The Taiwan stock market has finished higher in three straight sessions, surging almost 1,400 points or 4.7 percent along the way. Now at a record closing high, the Taiwan Stock Exchange sits just above the 30,100-point plateau and it’s expected to open to the upside again on Tuesday.
The global forecast for the Asian markets is positive, with oil companies expected to lead the way – although profit-taking may creep in late in the day. The European and U.S. markets were up and the Asian bourses figure to at least open in similar fashion.
The TSE finished sharply higher on Monday following gains from the technology and cement sectors, while the financials were mixed and the plastics were soft.
For the day, the index rallied 755.23 points or 2.57 percent to finish at 30,105.04 after trading between 29,779.70 and 30,339.32.
Among the actives, First Financial climbed 1.02 percent, while Fubon Financial collected 1.67 percent, E Sun Financial sank 0.73 percent, Taiwan Semiconductor Manufacturing Company soared 5.36 percent, United Microelectronics Corporation shed 0.41 percent, Hon Hai Precision vaulted 1.08 percent, Largan Precision tumbled 1.93 percent, Catcher Technology added 0.49 percent, MediaTek rallied 3.74 percent, Delta Electronics jumped 1.51 percent, Novatek Microelectronics slumped 1.09 percent, Formosa Plastics dropped 1.17 percent, Nan Ya Plastics tanked 2.46 percent, Asia Cement rose 0.27 percent and Cathay Financial, Mega Financial and CTBC Financial were unchanged.
The lead from Wall Street is firm as the major averages opened higher on Monday and remained in the green throughout the trading day.
The Dow rallied 594.79 points or 1.23 percent to finish at 48,977.18, while the NASDAQ added 160.19 points or 0.69 percent to end at 23,395.82 and the S&P 500 gained 43.58 points or 0.64 percent to close at 6,902.05.
The jump by the Dow reflected a spike by shares of Chevron (CVX), with the energy giant soaring by 5.1 percent. Chevron, which is one of the leading private oil companies in Venezuela, surged following a U.S. attack on the country that led to the capture of President Nicolás Maduro.
The price of crude oil also shot up in reaction to the news, contributing to substantial strength among oil service stocks. The Philadelphia Oil Service Index spiked by 5.5 percent amid optimism about potential gains from rebuilding Venezuela’s oil infrastructure.
On the U.S. economic front, the Institute for Supply Management said its reading on U.S. manufacturing activity unexpectedly decreased in December.
Crude oil prices surged on Monday after OPEC reaffirmed its plans to pause production increases for early 2026, thereby allaying oversupply concerns. West Texas Intermediate crude for February delivery was up $58.31 or 0.99 percent at $1.73 per barrel.
Market Analysis
Taiwan Stock Market May Add To Its Winnings On Tuesday
2026-01-06 00:31:22
