Taiwan Shares Tipped To Open In The Green

(RTTNews) - The Taiwan stock market on Thursday snapped the four-day losing streak in which it had tumbled almost 1.750 points or 4.3 percent. The Taiwan Stock Exchange now sits just beneath the 41,370-point plateau and it figures to open to the upside again on Friday.

The global forecast for the Asian markets is cautiously optimistic on easing crude oil prices. 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 Thursday following big gains from the technology and plastics companies, while the financial shares were soft.

For the day, the index rallied 1,347.39 points or 3.37 percent to finish at 41,368.21 after trading between 40,263.18 and 41,606.91.

Among the actives, Cathay Financial collected 1.03 percent, while Mega Financial fell 0.25 percent, CTBC Financial shed 0.52 percent, First Financial dipped 0.18 percent, Fubon Financial rose 0.31 percent, E Sun Financial lost 0.47 percent, Taiwan Semiconductor Manufacturing Company jumped 2.06 percent, United Microelectronics Corporation surged 7.41 percent, Hon Hai Precision vaulted 3.13 percent, Largan Precision surged 8.13 percent, Catcher Technology climbed 1.09 percent, MediaTek skyrocketed 9.91 percent, Delta Electronics spiked 6.01 percent, Novatek Microelectronics expanded 2.54 percent, Formosa Plastics added 0.77 percent, Nan Ya Plastics rallied 8.04 percent and Asia Cement advanced 1.30 percent.

The lead from Wall Street is positive as the major averages spent the first half of Thursday in the red before bouncing firmly into positive territory, ending near daily highs.

The Dow climbed 276.31 points or 0.55 percent to finish at 50,285.66, while the NASDAQ added 22.74 points or 0.09 percent to end at 26,293.10 and the S&P 500 rose 12.75 points or 0.17 percent to close at 7,445.72.

The initial pullback on Wall Street came amid a substantial rebound by the price of crude oil, with U.S. crude oil futures surging as much as 4.5 percent after plummeting by 5.7 percent on Wednesday.

Unable to hold those early gains, crude oil prices turned lower over the course of trading on Thursday as investors watched developments in the U.S.-Iran peace talks. West Texas Intermediate crude for July delivery was down $1.41 or 1.43 percent at $96.85 per barrel.

Meanwhile, traders seemed to shrug off the negative reaction to earnings news from Nvidia (NVDA), although the AI leader still slumped by 1.8 percent.