(RTTNews) – The Taiwan stock market on Thursday halted the three-day winning streak in which it had collected almost 65 points or 0.6 percent. The Taiwan Stock Exchange now rests just beneath the 10,500-point plateau and it is expected to see a narrow trading range again on Friday.
The global forecast for the Asian markets is murky, thanks to mixed economic data and a decline in crude oil prices. The European and U.S. bourses were mixed but little changed and the Asian markets figure to follow suit.
The TSE finished barely lower on Thursday following mixed performances from the financial shares and the technology stocks.
For the day, the index sank 6.74 points or 0.06 percent to finish at 10,499.36 after trading between 10,483.54 and 10,534.52 on turnover of 101.939 billion Taiwan dollars.
Among the actives, Cathay Financial lost 0.30 percent, while Mega Financial collected 0.39 percent, Fubon Financial was unchanged, Taiwan Semiconductor Manufacturing Company added 0.47 percent, AU Optronics tumbled 2.79 percent, Advanced Semiconductor Engineering climbed 0.75 percent, Innolux plummeted 4.82 percent, Largan Precision was unchanged, Hon Hai Precision shed 0.43 percent and Taiwan Cement added 0.14 percent.
The lead from Wall Street is unclear as stocks showed a lack of direction on Thursday, bouncing back and forth across the unchanged line before ending mixed.
The NASDAQ added 4.96 points or 0.1 percent to 6,390.00, while the Dow shed 28.97 points or 0.1 percent to 21,611.78 and the S&P eased 0.38 points or 0.1 percent to 2,473.45.
Traders digested the European Central Bank’s monetary policy decision, with the bank leaving its key interest rates unchanged. The ECB also reiterated its plan to purchase 60 billion euros worth of government bonds and other assets each month through December.
In U.S. economic news, the Labor Department noted a bigger than expected decrease in first-time claims for U.S. unemployment benefits in the week ended July 15th.
The Federal Reserve Bank of Philadelphia said that regional manufacturing activity grew at a slower rate in July. Also, the Conference Board said its index of leading economic indicators rose by more than expected in June.
Crude oil futures inched lower Thursday, trimming recent gains despite signs that U.S. production is slowing. On the final day of the August contract, WTI oil was down 33 cents or 0.7 percent to $46.79/bbl.
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