FX.co ★ Taiwan Stock Market May Be Stuck In Neutral On Thursday

The Taiwan stock market has seen robust growth in the past few trading days, growing by more than 700 points or 3.5 percent. Presently, the Taiwan Stock Exchange is slightly above the 20,130-point mark, though the progress may slow down soon.

International predictions for Asian markets don't anticipate significant movement due to apprehensions around interest rate forecasts. The European markets saw a mild decline, whereas U.S. markets showed a varied and balanced performance. It's expected that the Asian markets will reflect a mix of these trends.

On Wednesday, the Taiwan Stock Exchange brought in substantial profits, largely buoyed by the boost in technology stocks. The index rallied by 532.46 points or 2.72 percent ending the day at 20,131.74. The trading range for the day was between 19,770.46 and 20,165.77.

Discussing individual performers, Cathay Financial grew by 1.03 percent while Mega Financial dropped by 1.63 percent. CTBC Financial decreased by 0.32 percent, while First Financial and Fubon Financial rose by 0.18 percent and 0.75 percent respectively. Taiwan Semiconductor Manufacturing Company experienced a substantial jump of 3.85 percent. United Microelectronics Corporation also strengthened, while Hon Hai Precision had an impressive 8.33 percent surge.

U.S. Wall Street gave no significant adjustments as the primary averages opened mixed and stayed relatively steady. The Dow dropped by 42.77 points or 0.11 percent, finishing at 38,460.92, whereas the NASDAQ rose 16.11 points or 0.10 percent, closing at 15,712.75. The S&P 500 had a slight increase of 1.08 points or 0.02 percent, ending at 5,071.63.

Positive responses to recent corporate earnings news from companies like Tesla, Texas Instruments, Visa, and Mattel, helped in mitigating any major loss. However, investors were still hesitant due to concerns over future interest rates, looking towards the Federal Reserve meeting held next week. While no changes are expected in the interest rates, there's anticipation of potential clues about future rate cuts.

Oil prices showed a decline on Wednesday over concerns regarding demand outlook and with tensions easing in the Middle East. West Texas Intermediate Crude oil futures for June descended by $0.55, ending at $82.81 a barrel.