The Taiwan stock market has experienced an upward trajectory over the last three sessions, gaining more than 600 points or approximately 2.7% during this period. Currently, the Taiwan Stock Exchange stands slightly above the 23,315 mark, suggesting potential for further growth on Friday.
The outlook for Asian markets points to a positive trend, bolstered by anticipation surrounding key U.S. employment data expected later in the day. While European markets showed gains and U.S. markets presented mixed results, Asian markets appear poised to navigate between these outcomes.
On Thursday, the TSE recorded modest gains, driven by the performance of financial, technology, and plastics sectors. The index rose by 155.02 points, or 0.67%, closing at 23,316.60. Throughout the day, it fluctuated between 23,216.65 and 23,348.42.
Among the active stocks, Mega Financial increased by 0.78%, CTBC Financial by 0.16%, First Financial by 0.72%, Fubon Financial by 1.31%, E Sun Financial by 0.70%, and Taiwan Semiconductor Manufacturing Company by 0.45%. Additionally, Hon Hai Precision saw a rise of 1.17%, Catcher Technology by 1.27%, Delta Electronics by 2.84%, Novatek Microelectronics by 1.48%, Formosa Plastics by 1.62%, and Nan Ya Plastics by 0.99%. In contrast, Asia Cement experienced a slight decline of 0.24%, while United Microelectronics Corporation, Largan Precision, MediaTek, and Cathay Financial remained unchanged.
On Wall Street, the trading session was ambiguous. Major indices initially opened higher but, notably, the Dow turned negative and remained so throughout the day. The Dow dropped by 125.65 points, or 0.28%, closing at 44,747.63. Conversely, the NASDAQ gained 99.66 points, or 0.51%, ending at 19,971.99, and the S&P 500 increased by 22.09 points, or 0.36%, to close at 6,083.57.
The volatility observed on Wall Street reflected the cautious approach of traders, who refrained from making significant moves ahead of the Labor Department’s much-anticipated monthly employment report. This report holds the potential to influence the Federal Reserve’s interest rate decision.
Ahead of the employment report, a Labor Department release indicated that first-time unemployment claims in the U.S. rose more than anticipated last week.
On the commodities front, crude oil prices declined further on Thursday, following President Donald Trump’s reiterated commitment to boost U.S. oil production to drive prices down. West Texas Intermediate crude for March delivery fell by $0.42, or 0.6%, reaching a one-month low at $70.61 per barrel.
In regional developments, Taiwan is set to unveil its January data on imports, exports, trade balance, and inflation. In December, imports surged by 30.4% year-on-year, and exports increased by 9.2% annually, resulting in a trade surplus of $6.08 billion. Consumer prices in the same month rose by 0.15% on a monthly basis and by 2.1% year-on-year.
