The Taiwan stock market has finished higher in three straight sessions, collecting almost 125 points or 1.1 percent. The Taiwan Stock Exchange now rests just beneath the 10,990-point plateau although investors may cash in on Tuesday.
The global forecast for the Asian markets is flat to lower, with the U.S. and British markets were off on holiday. The Asian markets figure to open lower, however, with crude oil prices tumbling.
The TSE finished modestly higher on Monday following gains from the financial, technology and plastic stocks, while the steel companies were mixed.
For the day, the index advanced 45.47 points or 0.42 percent to finish at 10,987.77 after trading between 10,965.18 and 10,999.43 on turnover of 139.37 billion Taiwan dollars.
Among the actives, Cathay Financial collected 0.37 percent, while Fubon Financial gained 0.38 percent, Mega Financial perked 1.12 percent, Taiwan Semiconductor Manufacturing Company shed 0.66 percent, Hon Hai Precision spiked 2.66 percent, Largan Precision advanced 2.25 percent, Innolux added 0.44 percent, AsusTek Computer climbed 1.09 percent, Formosa Plastics jumped 1.38 percent, China Steel was up 0.21 percent and Taiwan Steel Union slid 0.43 percent.
There is no lead from Wall Street, which was off Monday for the Memorial Day holiday. United Kingdom markets also were shuttered.
Germany’s DAX slid 74.55 points or 0.58 percent to 12,863.46, while the CAC 40 in France shed 33.61 points or 0.61 percent to 5,508.93.
Crude oil prices continue to plummet near $66 a barrel from a four-year peak near $73 on renewed expectations that OPEC will ramp up production.
Weakness may be tempered by hopes that the U.S. and North Korea will reinstate their June 12 meeting in Singapore and the prospect of fresh elections in Italy.
