FX.co ★ Taiwan Stock Market May See Additional Support On Thursday

The Taiwan stock market halted its two-day losing streak on Wednesday, during which it had plunged more than 100 points or 0.5 percent. The Taiwan Stock Exchange now slightly exceeds the 20,200-point mark and is expected to maintain its trajectory of growth on Thursday.

International market forecasts anticipate a general upbeat trend for the Asian markets due to sustained confidence about interest rates' future. Followed by an uplift in the European and U.S. markets, the Asian markets are expected to follow suit.

On Wednesday, the Taiwan Stock Exchange (TSE) closed with moderate gains following fluctuating performances from the finance and technology sectors, while the plastics and cement industries showed weaker results. Specific statistics revealed the index advancing 73.63 points or 0.37 percent to culminate at 20,200.12 after trading between 20,108.96 and 20,255.10.

The Wall Street performance appears to be robust with major averages recording an upward trend throughout Wednesday's trading session. Notably, the Dow surged 477.75 points or 1.22 percent to conclude at 39,760.08, NASDAQ rallied 83.82 points or 0.51 percent to close at 16,399.52, and the S&P 500 gained 44.91 points or 0.86 percent to end at 5,248.49.

A crucial factor influencing Wall Street's strength was investors' strategy to purchase underpriced stocks after a mediocre performance the previous day. Strategies were further bolstered positively by the reduction in treasury yields amid ongoing optimism about the outlook for interest rates following the Federal Reserve's monetary policy announcement last week. Despite the expected decision to keep interest rates unchanged, officials projected three rate cuts this year.

Crude oil prices declined on Wednesday following an unanticipated rise in U.S. crude and gasoline stocks last week. West Texas Intermediate Crude oil futures for May ended lower by $0.27 or 0.33 percent at $81.35 a barrel.

Please note, the markets will remain closed on Good Friday.