Taiwan Bourse Expected To Open In The Green On Tuesday

(RTTNews) - The Taiwan stock market has moved higher in two of three trading days since the end of the two-day losing streak in which it had given up more than 640 points or 2.3 percent. The Taiwan Stock Exchange now sits just beneath the 27,870-point plateau and it's likely to extend its gains on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead.

The TSE finished modestly higher on Monday following gains from the technology stocks and plastics companies, while the financial sector was mixed. For the day, the index improved 218.10 points or 0.79 percent to finish at 27,869.51 after trading between 27,680.51 and 27,976.89. Among the actives, Cathay Financial fell 0.33 percent, while Mega Financial collected 0.37 percent, Fubon Financial perked 0.11 percent, E Sun Financial shed 0.34 percent, Taiwan Semiconductor Manufacturing Company advanced 1.03 percent, United Microelectronics Corporation added 0.44 percent, Hon Hai Precision rallied 2.25 percent, Largan Precision jumped 1.81 percent, Catcher Technology rose 0.25 percent, MediaTek sank 0.79 percent, Delta Electronics strengthened 1.76 percent, Novatek Microelectronics improved 0.79 percent, Formosa Plastics climbed 1.04 percent, Nan Ya Plastics vaulted 1.65 percent, Asia Cement surged 3.19 percent and CTBC Financial was unchanged.

The lead from Wall Street is solid as the major averages opened higher on Monday and largely spent most of the sessions firmly in positive territory.

The Dow jumped 381.53 points or 0.81 percent to finish at 47,368.63, while the NASDAQ surged 522.64 points or 2.27 percent to close at 23,527.17 and the S&P 500 rallied 103.63 points or 1.54 percent to end at 6,832.43.

The strength on Wall Street came after the Senate voted to advance legislation to end the government shutdown, which recently became the longest in U.S. history. The Senate voted 60-40 in favor of a temporary funding bill, which would also reverse some of the recent mass federal layoffs.

Several Democratic Senators broke with party leaders in favor of moving forward with the legislation, as it does call for a vote on the extension of enhanced Obamacare tax credits.

The end of the shutdown would also lead to the resumption of the release of key U.S. economic data that has recently been withheld.

Crude oil prices moved higher on Monday on the prospects of the U.S. government shutdown coming to a close. West Texas Intermediate crude for December delivery was up $0.31 or 0.52 percent at $60.06 per barrel.