The Taiwan stock market has experienced a downturn over four consecutive sessions, decreasing by over 565 points or 2.7%. Currently, the Taiwan Stock Exchange sits just above the 22,780 mark. However, there is a possibility for stabilization on Monday.
The global outlook for Asian markets appears promising due to strong earnings reports and renewed confidence regarding interest rates. Following this trend, both European and U.S. markets have shown increases, and it is expected that Asian markets will respond similarly.
On Friday, the TSE saw a modest decline, influenced by losses in financials, technology, and plastics sectors.
For the session, the index decreased by 40.35 points, equating to a 0.18% drop, ending at 22,780.08, with fluctuations between 22,231.94 and 22,828.98.
Key movements included Mega Financial and Hon Hai Precision both falling by 1.65%, First Financial losing 0.55%, Fubon Financial down 0.44%, E Sun Financial dropping sharply by 2.01%, Taiwan Semiconductor Manufacturing Company decreasing by 0.49%, United Microelectronics Corporation declining by 3.22%, while Largan Precision rose slightly by 0.22%. Catcher Technology decreased by 1.91%, Delta Electronics dropped by 3.34%, Novatek Microelectronics slipped by 0.40%, Formosa Plastics decreased by 0.42%, Asia Cement fell by 0.75%, and Cathay Financial, CTBC Financial, MediaTek, and Nan Ya Plastics remained unchanged.
The mood from Wall Street is positive, with key indices opening higher on Friday and maintaining gains throughout the day.
The Dow increased by 288.73 points, or 0.69%, closing at 42,052.19. The NASDAQ rose 144.77 points, or 0.80%, to 18,239.92, and the S&P 500 added 23.35 points, or 0.41%, to finish at 5,728.80.
For the week, the Dow edged down by 0.2%, the S&P fell by 1.4%, and the NASDAQ decreased by 1.5%.
Wall Street's robustness was attributed to positive responses to solid earnings from major companies such as Intel and Amazon.
Investors also considered the Labor Department's key jobs report, which indicated lower-than-expected job growth in October. While this raised concerns about economic strength, it also fostered renewed optimism regarding interest rate forecasts.
In commodities, oil futures experienced a modest increase on Friday due to concerns over Middle Eastern tensions, particularly following reports of potential Iranian actions against Israel. West Texas Intermediate Crude futures for December increased by $0.23, or 0.33%, settling at $69.49 per barrel.
