Taiwan Stock Market May Spin Its Wheels On Tuesday

(RTTNews) - The Taiwan stock market on Monday halted the four-day losing streak in which it had retreated more than 360 points or 2.4 percent. The Taiwan Stock Exchange now rests just above the 15,625-point plateau and it may be stuck in neutral again on Tuesday. The global forecast for the Asian markets is flat to lower amid a lack of catalysts as investors take a wait-and-see attitude. The European markets finished slightly lower and the U.S. bourses were mixed and little changed and the Asian markets also figure to tick lower.

The TSE finished slightly higher on Monday following gains from the financial, plastic and cement sectors, while the technology stocks were mixed. For the day, the index rose 23.88 points or 0.15 percent to finish at 15,626.87 after trading between 15,529.39 and 15,643.86. Among the actives, Cathay Financial eased 0.12 percent, while Mega Financial perked 0.15 percent, CTBC Financial collected 0.67 percent, First Financial was up 0.19 percent, Fubon Financial gained 0.35 percent, E Sun Financial improved 0.60 percent, Taiwan Semiconductor Manufacturing Company sank 0.78 percent, United Microelectronics Corporation skidded 1.00 percent, Hon Hai Precision shed 0.48 percent, Largan Precision rose 0.25 percent, MediaTek jumped 1.65 percent, Delta Electronics dipped 0.17 percent, Novatek Microelectronics added 0.57 percent, Formosa Plastics climbed 0.54 percent, Nan Ya Plastics increased 0.13 percent, Asia Cement gathered 0.23 percent, Taiwan Cement surged 3.26 percent, China Steel lost 0.33 percent and Catcher Technology was unchanged. The lead from Wall Street offers little clarity as the major averages spent most of Monday hugging the line before finally ending mixed and little changed.

The Dow rose 66.44 points or 0.20 percent to finish at 33,875.40, while the NASDAQ dipped 35.25 points or 0.29 percent to close at 12,037.20 and the S&P 500 rose 3.52 points or 0.09 percent to end at 4,137.04.

The choppy trading on Wall Street came as traders remained reluctant to make significant moves ahead of the release of earnings news from several big-name companies in the coming days.

Tech giants Alphabet (GOOGL), Amazon (AMZN), Intel (INTC), Meta Platforms (META) and Microsoft (MSFT) are among a slew of well-known companies due to report their quarterly results this week.

Reports on consumer confidence, new home sales, durable goods orders, first quarter GDP and personal income and spending are likely to attract attention in the coming days.

Crude oil futures settled higher on Monday following reports that OPEC is planning additional supply cuts. West Texas Intermediate Crude oil futures for June ended higher by $0.89 or 1.1 percent at $78.76 a barrel.