Taiwan Stock Market May See Additional Support On Thursday

(RTTNews) - The Taiwan stock market has alternated between positive and negative finishes through the last five trading days since the end of the two-day slide in which it had dropped more than 1,300 points or 2.9 percent. The Taiwan Stock Exchange sits just above the 45,630-point plateau and it may extend its gains on Thursday.

The global forecast for the Asian markets is cautiously optimistic on an improved outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.

The TSE finished sharply higher on Wednesday following gains from the financial shares, technology stocks and plastics companies.

For the day, the index spiked 893.64 points or 2.00 percent to finish at 45,631.59 after trading between 44,850.69 and 45,881.91.

The lead from Wall Street ends up positive as the major averages opened higher, slumped midday but rebounded to finish in the green.

The Dow climbed 150.37 points or 0.29 percent to finish at 52,658.64, while the NASDAQ improved 162.22 points or 0.62 percent to close at 26,269.23 and the S&P 500 added 28.81 points or 0.38 percent to end at 7,572.40.

The early strength on Wall Street came after the Labor Department said producer prices fell more than expected last month, easing concerns about the outlook for inflation and interest rates.

Buying interest remained somewhat subdued, however, as traders kept an eye on the escalating conflict between the U.S. and Iran.

Crude oil prices ticked lower on Wednesday after U.S. Energy Information Administration data on crude oil inventories indicated weaker-than-expected demand. West Texas Intermediate crude for August delivery was down $0.09 or 0.11 percent at $79.25 per barrel.