The Taiwan stock market rebounded strongly on Tuesday, following a brief interruption to its five-day streak of gains, where it had cumulatively advanced more than 840 points or 4.3 percent. The Taiwan Stock Exchange now stands slightly above the 19,910-point level, and appears set to continue its climb on Wednesday.Global forecasts suggest that Asian markets are poised for positive performance, on the back of optimism surrounding the outlook for interest rates. European and U.S. markets have recorded gains, which suggests a strong opening for Asian markets as well.In the recent trading session on Tuesday, The Taiwan Stock Exchange (TSE) saw modest gains, bolstered by advancements in financial shares, technology stocks, and plastics.On that day, the index rose by 188.47 points or 0.96 percent, closing at 19,914.55 after trading within a range of between 19,664.71 and 19,917.06.Various active stocks performed well, including Cathay Financial, which rose by 0.98 percent, while Mega Financial improved by 0.38 percent. Both CTBC Financial and Asia Cement secured gains of 0.50 percent. Fubon Financial rose by 0.72 percent, while E Sun Financial collected a 0.59 percent hike. Remarkable performances were also seen from Taiwan Semiconductor Manufacturing Company and United Microelectronics Corporation, among others.In the United States, Wall Street’s leading averages moved decisively higher, reacting positively to the latest Labor Department report on consumer price inflation in February.The Dow Jones closed 235.83 points or 0.61 percent higher at 39,005.49, while the NASDAQ advanced by 246.36 points or 1.54 percent to finish at 16,265.64, and the S&P 500 rallied 57.33 points or 1.12 percent, wrapping up the trading session at 5,175.27.While the inflation report suggested core price growth had decelerated slightly less than anticipated, it still brought about optimism that the Federal Reserve could take steps to lower interest rates in June. Another report from the Labor Department, focusing on producer price inflation for February, is due for release this Thursday.Meanwhile, oil futures experienced a slight dip on Tuesday due to influences from the U.S. inflation data, as well as ongoing concerns about the demand outlook. West Texas Intermediate Crude oil futures for delivery in April declined $0.37 to settle at $77.56 per barrel.The material has been provided by InstaForex Company – www.instaforex.com
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