The Taiwan stock market has experienced a slight decline over two consecutive sessions, dropping nearly 100 points, which equates to 0.5 percent, during this period. Despite this, the Taiwan Stock Exchange remains at a strong position, just under the 19,785-point mark. Encouragingly, it is expected that the downward trend might come to a halt on Thursday.Despite mixed reactions in European markets, a general positive sentiment guides the global forecast for Asian markets. This optimism is largely driven by promising prospects surrounding interest rates. The influence of sharp increases in U.S. markets also has a potential to guide Asian markets on a similar upward trajectory.On Wednesday, the TSE reported a minor fall due to losses in the financial and plastics sectors. On the contrary, outcomes from technology sectors were notably varied. To quantify, the index dipped by 72.75 points or 0.37 percent to wrap the day at 19,784.45, fluctuating between 19,728.43 and 19,994.42 throughout.In terms of active stocks on that day, Cathay Financial noted a 0.52 percent drop, while Mega Financial fell by 0.12 percent. Companies like CTBC Financial, First Financial, and Fubon Financial also saw declines, registering a 1.57 percent, 0.55 percent, and 0.29 percent drawback respectively. Firms including E Sun Financial and United Microelectronics Corporation experienced slight dips, both at 0.19 percent, while Taiwan Semiconductor Manufacturing Company shed 0.52 percent.On a brighter note, certain companies like Hon Hai Precision witnessed a 1.47 percent surge, and Largan Precision shot up by 3.84 percent. Catcher Technology also posted gains, climbing 0.70 percent.Conversely, stocks such as MediaTek and Delta Electronics tumbled 1.74 percent and slumped 1.25 percent respectively. Companies like Nan Ya Plastics and Formosa Plastics saw significant declines, the former plummeting 2.55 percent while the latter retreated 1.47 percent.U.S. markets on Wednesday were mostly stagnant until late in the day when a surge shot them into an advantageous position, setting record high closures. The Dow noted an impressive surge of 401.37 points or 1.03 percent, ending at 39,512.13. Simultaneously, the NASDAQ rallied 202.62 points or 1.25 percent, finishing at 16,369.41, while the S&P 500 managed to gain 46.11 points or 0.89 percent, closing at 5,224.62.The U.S Wall Street rally was primarily driven by the Federal Reserve’s decision to maintain consistent interest rates but also forecasting three rate cuts this year, which has been the subject of some doubt. The rate for federal funds still resides at the 5.25 to 5.50 percent range, but projected reductions predict rates landing within the 4.50 to 4.75 percent band before 2024 ends.In the energy sector, crude oil witnessed a significant drop in price on Wednesday, as traders opted to claim profits from the recent inflation. It was also curbed by a solid dollar. Specifically, West Texas Intermediate Crude oil futures for April saw a downturn of $1.79 or 2.1 percent per barrel, ending at $81.68.The material has been provided by InstaForex Company – www.instaforex.com
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