The Taiwan stock market has demonstrated resilience, marking gains for the fourth consecutive trading day, ultimately accruing nearly 800 points or a 3.5% increase. Currently, the Taiwan Stock Exchange Index hovers just above the 23,300-point threshold, with expectations of further advancements on Wednesday.
The forecast for the Asian markets is optimistic, bolstered by renewed confidence in the trajectory of interest rates. Both European and U.S. markets reflected upward trends, and it is anticipated that the Asian markets will follow suit.
On Tuesday, the Taiwan Stock Exchange experienced a modest increase, driven by gains in the financial sector, a downturn in the plastics sector, and mixed performance among technology firms. The index saw an incremental rise of 33.19 points, or 0.14%, concluding the day at 23,300.01, after fluctuating between 23,174.02 and 23,377.64.
Significant movements among active stocks included Cathay Financial’s rise by 0.17%, Mega Financial’s 0.65% increase, CTBC Financial’s 0.78% uplift, First Financial’s 0.91% advance, and Fubon Financial’s 1.10% climb. Other notable performances included E Sun Financial’s 0.73% gain, United Microelectronics Corporation’s 0.47% boost, Hon Hai Precision’s 0.28% increase, Largan Precision’s 0.36% growth, and MediaTek’s notable 1.38% rally. In contrast, Delta Electronics fell by 1.29%, Novatek Microelectronics surged by 3.60%, Formosa Plastics plunged by 2.44%, Nan Ya Plastics declined by 0.93%, Asia Cement eased by 0.12%, and both Catcher Technology and Taiwan Semiconductor Manufacturing Company remained unchanged.
Enthusiasm from Wall Street set a positive tone as major indices opened with gains on Tuesday, maintaining their upward momentum throughout the session. The Dow Jones Industrial Average surged by 537.98 points or 1.24% to close at 44,025.81, the NASDAQ advanced by 126.58 points or 0.64% to finish at 19,756.78, and the S&P 500 increased by 52.58 points or 0.88% settling at 6,049.24.
U.S. stocks were entrenched in positive territory, buoyed by investor analysis of the Trump administration's economic policies and potential tariff measures. The prospects of Federal Reserve interest rate cuts this year and declining Treasury yields further propelled the market upward.
The dip in Treasury yields coincided with U.S. inflation data released recently, which invigorated expectations around interest rates. Meanwhile, oil prices collapsed on Tuesday, influenced by Trump's plans to escalate oil and gas production in the U.S. West Texas Intermediate Crude oil futures for February concluded down $1.99 or 2.56%, at $75.89 a barrel.
