The Taiwan stock market on Thursday ended the two-day winning streak in which it had climbed more than 660 points or 2 percent. The Taiwan Stock Exchange now sits just above the 31,800-point plateau and it’s expected to open to the downside again on Friday.
The global forecast for the Asian markets is negative on disappointing data and continued weakness from technology stocks. The European and U.S. markets were down and the Asian bourses are expected to follow that lead.
The TSE finished sharply lower on Thursday following losses from the technology stocks and mixed performances from the financials and plastics.
For the day, the index tumbled 488.54 points or 1.51 percent to finish at 31,801.27 after trading between 31,769.08 and 32,241.64.
Among the actives, Cathay Financial dipped 0.17 percent, while Mega Financial jumped 1.40 percent, First Financial collected 1.04 percent, Fubon Financial gained 0.86 percent, E Sun Financial advanced 0.74 percent, Taiwan Semiconductor Manufacturing Company skidded 1.12 percent, United Microelectronics Corporation shed 0.49 percent, Hon Hai Precision contracted 1.60 percent, Largan Precision tanked 2.75 percent, Catcher Technology rose 0.24 percent, MediaTek declined 1.67 percent, Delta Electronics plummeted 4.96 percent, Novatek Microelectronics retreated 1.77 percent, Formosa Plastics added 0.75 percent, Nan Ya Plastics stumbled 3.99 percent, Asia Cement climbed 1.00 percent and CTBC Financial was unchanged.
The lead from Wall Street is weak as the major averages opened lower on Thursday and spent the entire session in the red, ending near daily lows.
The Dow tumbled 592.58 points or 1.20 percent to finish at 48,908.72, while the NASDAQ sank 363.99 points or 1.59 percent to end at 22,540.59 and the S&P 500 shed 84.32 points or 1.23 percent to close at 6,798.40.
Weakness among tech stocks continued to weigh on Wall Street amid losses from Google parent Alphabet (GOOGL) and Qualcomm (QCOM), which provided disappointing guidance.
Tech stocks have moved sharply lower over the past few sessions amid concerns about valuations and the impact of artificial intelligence.
In U.S. economic news, the Labor Department said first-time claims for U.S. unemployment benefits rose much more than expected last week. The Labor Department also said job openings in the U.S. unexpectedly fell to their lowest level in over five years in December.
Crude oil prices plunged on Thursday after weak U.S. jobs data increased demand concerns. West Texas Intermediate crude for March delivery was down $1.87 or 2.87 percent at $63.27 per barrel.
Market Analysis
Losses May Accelerate For Taiwan Stock Market
2026-02-06 00:31:12
