Lower Open Anticipated For Taiwan Stock Market

(RTTNews) - The Taiwan stock market has moved higher in four straight sessions, advancing more than 2,000 points or 6 percent along the way. The Taiwan Stock Exchange now sits just above the 33,770-point plateau although it's doe for profit taking on Tuesday. The global forecast for the Asian markets is negative due to uncertainty surrounding U.S. tariff policies. The European and U.S. markets were down and the Asian bourses are expected to follow suit.

The TSE finished modestly higher on Monday following gains from the financial shares, technology stocks and plastics companies. For the day, the index climbed 167.55 points or 0.50 percent to finish at 33,773.26 after trading between 17,306.97 and 34,212.38. Among the actives, Cathay Financial shed 0.66 percent, while Mega Financial spiked 2.25 percent, CTBC Financial perked 0.16 percent, Fubon Financial collected 0.53 percent, E Sun Financial jumped 2.05 percent, Taiwan Semiconductor Manufacturing Company sank 0.78 percent, United Microelectronics Corporation vaulted 1.75 percent, Hon Hai Precision added 0.66 percent, Largan Precision soared 3.49 percent, Catcher Technology fell 0.26 percent, MediaTek plunged 3.23 percent, Delta Electronics surged 3.57 percent, Novatek Microelectronics improved 0.80 percent, Formosa Plastics climbed 1.18 percent, Nan Ya Plastics skyrocketed 6.09 percent and Asia Cement sank 0.42 percent.

The lead from Wall Street is bleak as the major averages opened lower and remained in the red throughout the session, ending near daily lows.

The Dow plummeted 821.91 points or 1.66 percent to finish at 48,804.06, while the NASDAQ tumbled 258.79 points or 1.13 percent to close at 22,627.27 and the S&P 500 dropped 71.76 points or 1.04 percent to end at 6,837.75.

The sell-off on Wall Street came amid renewed trade uncertainty following the Supreme Court's decision last Friday striking down most of President Donald Trump's sweeping global tariffs.

Meanwhile, the European Commission issued a statement requesting "full clarity" on the steps the U.S. intends to take following the Supreme Court decision.

Negative sentiment was also generated in reaction to a nosedive by shares of IBM Corp. (IBM) after Anthropic's Claude announced COBOL capabilities. COBOL is a programming language used widely in business data processing, which is a core business for IBM.

Crude oil prices sputtered on Monday as demand concerns reappeared following the uncertainty generated by the tariff issues. West Texas Intermediate crude for April delivery slipped $0.10 or 0.15 percent to $66.38 per barrel.