The Taiwan stock market concluded a five-day winning streak on Monday, during which it gained over 770 points, marking an increase of 3.4%. As of now, the Taiwan Stock Exchange index stands slightly below the 23,530-point mark, with the potential to rebound on Tuesday.
The outlook for Asian markets is promising, largely driven by momentum following the U.S. election results. With positive performances in European and U.S. markets, it's anticipated that Asian exchanges will continue this upward trend.
On Monday, the TSE experienced a marginal decline, impacted by setbacks in financial shares and the plastics sector, while technology stocks displayed mixed outcomes. The index saw a slight drop of 24.25 points or 0.10%, closing at 23,529.64, after fluctuating between 23,306.66 and 23,563.80.
In terms of individual stocks: Cathay Financial decreased by 0.51%; Mega Financial increased by 0.26%; CTBC Financial fell by 0.16%; First Financial declined by 0.19%; Fubon Financial saw a significant drop of 1.29%; Taiwan Semiconductor Manufacturing Company slipped by 0.46%; United Microelectronics Corporation diminished by 0.21%; Hon Hai Precision rose by 0.92%; Catcher Technology surged 2.09%; MediaTek increased 1.17%; Delta Electronics advanced by 0.24%; Novatek Microelectronics grew 1.54%; Formosa Plastics tumbled 2.52%; Nan Ya Plastics fell 1.05%; Asia Cement dropped 2.31%; while Largan Precision and E Sun Financial remained stable without any change.
Wall Street's outlook remains cautiously optimistic, with the major averages starting higher and maintaining that trend, resulting in modest gains that marked new record closes. The Dow increased by 304.14 points or 0.69%, reaching 44,294.13; the NASDAQ edged up by 11.99 points or 0.06%, closing at 19,298.76; and the S&P 500 rose 5.81 points or 0.10%, finishing at 6,001.35.
Investor sentiment remains positive, buoyed by expectations that policies from Donald Trump's administration, such as tax cuts and deregulation, will enhance corporate profitability.
In contrast, oil futures fell sharply on Monday, influenced by a strengthening dollar and concerns over demand. West Texas Intermediate Crude oil futures for December settled at $68.04 a barrel, down $2.34 or 3.6%.
