(RTTNews) – The Taiwan stock market bounced higher again on Monday, one session after ending the four-day winning streak in which it had advanced nearly 270 points or 1.6 percent. The Taiwan Stock Exchange now sits just above the 18,525-point plateau and it may add to its winnings on Tuesday.
The global forecast for the Asian markets suggests mild upside, supported by crude oil prices and optimism for economic recovery. The European markets were up and the U.S. markets were off on holiday, and the Asian markets are also expected to tick higher.
The TSE finished modestly higher on Monday as gains from the technology stocks were offset by weakness from the financial sector.
For the day, the index climbed 122.11 points or 0.66 percent to finish at 18,525.44 after trading between 18,435.02 and 18,535.42.
Among the actives, Cathay Financial tumbled 1.77 percent, while Mega Financial skidded 1.07 percent, CTBC Financial fell 0.36 percent, Fubon Financial retreated 1.87 percent, First Financial shed 0.59 percent, E Sun Financial declined 1.02 percent, Taiwan Semiconductor Manufacturing Company climbed 1.64 percent, United Microelectronics Corporation rallied 2.55 percent, Largan Precision tanked 2.80 percent, Catcher Technology advanced 0.95 percent, MediaTek surged 4.69 percent, Delta Electronics gained 0.75 percent, Formosa Plastic sank 0.93 percent, Nan Ya Plastics eased 0.23 percent, Chunghwa Telecom was down 0.43 percent, Asia Cement slid 0.45 percent and Taiwan Cement and Hon Hai Precision were unchanged.
There is no lead from Wall Street as the markets were off Monday for the Martin Luther King Jr. holiday and will return to action on Tuesday.
The European markets provide a positive secondary lead, thanks to a combination of bargain hunting, slowing coronavirus numbers and economic optimism.
Financials, technology stocks and industrials are all looking at support.
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