FX.co ★ Tech Shares May Weigh On Taiwan Stock Market

In recent trading days, Taiwan's stock market has seen a significant rise, gaining over 200 points or just over 1 percent in only a few days. Although the Taiwan Stock Exchange is close to reaching the 19,930-point plateau, it's likely some of these gains may be lost on Thursday.

There are currently mixed international forecasts due to an absence of market motivators, with potential losses from technology stocks expected to be compensated by gains in oil sectors. Both the European and American markets experienced little change, and Asian markets are predicted to follow suit.

On Wednesday, the TSE closed just slightly higher, managing to counterbalance weaknesses in the plastic and cement sectors with gains from the financial and technology sectors. The index increased by 13.96 points or 0.07 percent, ending at 19,928.51 after fluctuating between 19,866.73 and 20,112.81.

Active companies that contributed to this increase included Cathay Financial, Mega Financial, CTBC Financial, First Financial, and Fubon Financial. The Taiwan Semiconductor Manufacturing Company and United Microelectronics Corporation also made notable advances.

In contrast, Wall Street offered a weaker lead as major averages opened to mixed results on Wednesday, with minimal changes by closing. The Dow ended with an added 37.83 points or 0.10 percent, finishing at 39,043.32, while the NASDAQ fell by 87.87 points or 0.54 percent, closing at 16,177.77, and the S&P 500 fell 9.96 points or 0.19 percent, ending at 5.165.31.

The NASDAQ’s fall can partly be attributed to a slump in the tech sector with tech-favorite Nvidia dropping by 1.1 percent. Market activity overall remained subdued in anticipation of imminent key reports including producer prices, industrial production, jobless claims, and retail sales.

Oil prices experienced a noteworthy increase after an unexpected dip in U.S. crude inventories last week. Supply disruptions in Russia also influenced the surge in oil prices. West Texas Intermediate Crude oil futures for April rose by $2.16 or 2.8 percent to $79.72 a barrel.