Soft Start Expected For Taiwan Stock Market

RTTNews | 12h 40min ago
Soft Start Expected For Taiwan Stock Market

(RTTNews) - The Taiwan stock market turned lower again on Thursday, one day after ending the four-day losing streak in which it had stumbled almost 800 points or 3.6 percent. The Taiwan Stock Exchange now sits just above the 21,960-point plateau and it's expected to open in the red again on Friday.

The global forecast for the Asian markets is soft thanks to ongoing tariff concerns and their effect on the world economy. The European and U.S. markets were down and the Asian bourses are expected to follow that lead.

The TSE finished sharply lower on Thursday following losses from the plastics and technology stocks, while the financial sector came in mixed.

For the day, the index stumbled 316.68 points or 1.42 percent to finish at the daily low of 21,961.68 after peaking at 22,552.43.

Among the actives, Cathay Financial dropped 0.90 percent, while Mega Financial collected 0.76 percent, First Financial advanced 0.91 percent, Fubon Financial shed 0.56 percent, E Sun Financial jumped 1.72 percent, Taiwan Semiconductor Manufacturing Company tanked 2.33 percent, United Microelectronics Corporation stumbled 2.46 percent, Hon Hai Precision retreated 1.47 percent, Largan Precision plummeted 6.62 percent, Catcher Technology declined 1.45 percent, MediaTek slumped 1.42 percent, Delta Electronics rose 0.26 percent, Formosa Plastics surrendered 2.49 percent, Nan Ya Plastics plunged 5.29 percent and Asia Cement, CTBC Financial and Novatek Microelectronics were unchanged.

The lead from Wall Street is negative as the major averages opened in the red and continued to track lower throughout the session.

The Dow tumbled 537.36 points or 1.30 percent to finish at 40,813.57, while the NASDAQ dropped 345.44 points or 1.96 percent to close at 17.303.01 and the S&P 500 sank 77.78 points or 1.39 percent to end at 5,521.52.

The sell-off on Wall Street came amid ongoing concerns about President Donald Trump's trade policies after he suggested the U.S. would respond to the European Union's countermeasures with even more tariffs.

In economic news, the Labor Department said producer prices in the U.S. were unexpectedly flat in February. Also, the Labor Department unexpectedly saw a modest decrease by first-time claims for U.S. unemployment benefits last week.

Oil prices fell on Thursday amid prospects of excess supply in the market, and on concerns about the outlook for demand. West Texas Intermediate Crude oil futures for April ended lower by $1.13 or 1.7 percent at $66.55 a barrel.

read more
UK Economy Contracts Unexpectedly On Weaker Production

UK Economy Contracts Unexpectedly On Weaker Production

The UK economy logged an unexpected contraction at the start of the year on a sharp fall in production, official data revealed on Friday. Gross domestic product shrank 0.1 percent on a monthly basis in January, following a growth of 0.4 percent in December, the Office for National Statistics reported. GDP was expected to grow 0.1 percent.
RTTNews | 4h 27min ago
Asian Shares Advance As US Shutdown Worries Ease

Asian Shares Advance As US Shutdown Worries Ease

Asian stocks ended mostly higher on Friday after U.S. Senate Minority Leader Chuck Schumer said he plans to vote for a Republican bill to fund the government through September, helping ease worries about a potential federal government shutdown.
RTTNews | 4h 33min ago
Yen Falls Amid Uncertainty Over BoJ Policy

Yen Falls Amid Uncertainty Over BoJ Policy

The Japanese yen weakened against other major currencies in the Asian session on Friday, as the Bank of Japan (BoJ) is anticipated to keep interest rates steady next week as a way to evaluate the risks of escalating U.S. trade tensions.
RTTNews | 5h 18min ago
Yen Falls Against Majors

Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Friday.
RTTNews | 7h 8min ago
European Shares Seen Up As US Government Shutdown Worries Ease

European Shares Seen Up As US Government Shutdown Worries Ease

European stocks are likely to open higher on Friday amid signs the U.S. may avert a looming government shutdown after Senate Democratic leader Chuck Schumer announced he's ready to start the process of considering a Republican-led government funding bill that has fiercely divided Democrats.
RTTNews | 7h 27min ago
Dr. Reddy's Labs Recalls Levetiracetam In Sodium Chloride Injection

Dr. Reddy's Labs Recalls Levetiracetam In Sodium Chloride Injection

Dr. Reddy's Laboratories Ltd. is recalling Levetiracetam in 0.75% Sodium Chloride Injection in the United States citing mislabeling of infusion bag, according to the U.S. Food and Drug Administration. The recall involves one Batch/Lot No: A1540076 of Levetiracetam in 0.75% Sodium Chloride Injection, 1,000 mg/100 mL (10 mg/mL) single-dose infusion bags to the consumer level.
RTTNews | 8h 10min ago
European Economic News Preview: UK GDP Data Due

European Economic News Preview: UK GDP Data Due

Monthly GDP estimate, industrial production and foreign trade figures are due from the UK, headlining a busy day for the European economic news. At 3.00 AM ET, the Office for National Statistics releases UK GDP, industrial output and external trade data. The economy is forecast to grow 0.1 percent on a monthly basis in January, following a 0.4 percent gain in December.
RTTNews | 8h 14min ago