The Taiwan stock market is experiencing a mixed performance following an impressive eight-day winning streak that saw gains of over 1,450 points, equivalent to a 5.8 percent increase. Currently, the Taiwan Stock Exchange (TSE) is just below the 25,770-point mark and is anticipated to begin trading positively on Friday.
Global sentiments around the Asian markets are optimistic, buoyed by technology stocks, with European and U.S. markets showing gains that are expected to set a positive tone for Asian bourses.
On Thursday, the TSE closed notably higher, bolstered by strong performances in financial and technology sectors. The index gained 331.11 points, or 1.30 percent, finishing at a daily high of 25,769.36 after experiencing a low of 25,475.25 during the day.
Among the actively traded stocks, Cathay Financial experienced a slight decrease of 0.17 percent, while Mega Financial saw an increase of 0.48 percent. Other notable performances included First Financial rising 0.68 percent, and E Sun Financial improving by 0.60 percent. Conversely, Fubon Financial declined by 0.45 percent. Key technology stocks also saw considerable movement, with Taiwan Semiconductor Manufacturing Company marking a significant gain of 1.58 percent and Hon Hai Precision rising 1.42 percent. Delta Electronics distinguished itself with a remarkable surge of 6.70 percent, while Nan Ya Plastics faced a decline of 2.12 percent.
Wall Street provided a robust backdrop, as major U.S. indices opened higher and maintained positive traction throughout the day. The Dow Jones Industrial Average climbed 124.10 points, or 0.27 percent, concluding at 46,142.42. Meanwhile, the NASDAQ surged by 209.40 points, or 0.94 percent, wrapping up at 22,470.72, and the S&P 500 gained 31.61 points, or 0.48 percent, ending at 6,631.96.
Highlighting tech sector gains in the U.S., shares of Intel skyrocketed by 22.8 percent after the company announced a partnership with Nvidia to develop custom data center and PC products, pushing its stock to the highest closing level in over a year.
On the economic front, U.S. data revealed a larger-than-expected drop in initial jobless claims, while the Conference Board indicated a more significant decline than anticipated in its leading economic indicators for August.
In commodity markets, crude oil prices dipped following the U.S. Federal Reserve’s remarks on a potential slowdown in the American economy. West Texas Intermediate crude for October delivery fell by $0.46, or 0.72 percent, settling at $63.59 per barrel.
