The Taiwan stock market has experienced fluctuations over the past four trading days, alternating between gains and losses since ending its four-day losing streak, during which it dropped nearly 850 points or 3.6%. Currently, the Taiwan Stock Exchange index hovers just below the 22,690 mark and may see a slight decline on Thursday.
The outlook for Asian markets is uncertain, with a slight downward tendency projected, particularly affecting oil and technology stocks. European markets showed a slight decrease, while U.S. markets remained mixed and largely unchanged, suggesting minimal movement in the Asian markets as well.
On Wednesday, the TSE closed modestly lower due to declines in financial shares, technology stocks, and plastics companies. Specifically, the index fell 160.44 points, or 0.70%, to close at 22,688.36 after a trading range between 22,622.47 and 22,977.56.
Among the active stocks, Cathay Financial rose by 0.51%, CTBC Financial declined by 0.16%, and First Financial dropped by 1.25%. Both Fubon Financial and Formosa Plastics decreased by 0.98%. Other key performers included E Sun Financial, which decreased by 0.18%, Taiwan Semiconductor Manufacturing Company down by 1.44%, and United Microelectronics Corporation, which slipped by 0.66%. Hon Hai Precision increased by 1.23%, while Largan Precision fell by 1.89%. Catcher Technology declined by 0.73%, MediaTek by 0.78%, Delta Electronics by 0.39%, Novatek Microelectronics by 0.93%, Nan Ya Plastics by 1.33%, Asia Cement by 0.57%, and Mega Financial remained unchanged.
Wall Street’s performance offered little direction, as major indices spent much of Wednesday in negative territory before a late rally resulted in mixed and minimal changes. The Dow Jones gained 139.53 points or 0.32% to settle at 43,408.47. Meanwhile, the NASDAQ dipped 21.33 points or 0.11% to 18,966.14, and the S&P 500 barely moved, finishing up 0.13 points or 0.00% at 5,917.11.
The late rally was fueled by optimism following earnings reports from tech company Nvidia (NVDA), which were solid but fell short of high expectations. This volatility was partly due to subdued trading activity in the absence of major U.S. economic data. Traders appeared hesitant to make significant moves, keeping an eye on international developments amid rising Ukraine-Russia tensions.
Oil prices decreased on Wednesday amid concerns over weakened demand and a reported increase in U.S. crude inventories from the previous week. West Texas Intermediate crude oil futures for December delivery fell by $0.52, or 0.75%, settling at $68.87 per barrel.
