Rally May Stall For Taiwan Stock Market

(RTTNews) - The Taiwan stock market has moved higher in back-to-back sessions, accelerating more than 900 points or 2.2 percent along the way. Now at a fresh record closing high, the Taiwan Stock Exchange sits just above the 39,610-point plateau although it may spin its wheels on Tuesday. The global forecast for the Asian markets is unclear amid uncertainties surrounding the conflict in the Middle East. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The TSE finished sharply higher again on Monday following gains from the financial shares, plastics companies and technology stocks. For the day, the index jumped 684.23 points or 1.76 percent to finish at 39,616.63 after trading between 39,607.74 and 40,194.92.

The lead from Wall Street is murky as the major averages opened mixed on Monday and hugged the line throughout the session before ending on oppositive sides.

The Dow sank 62.92 points or 0.13 percent to finish at 49,167.79, while the NASDAQ climbed 50.50 points or 0.20 percent to close at 24,887.10 and the S&P 500 rose 8.83 points or 0.12 percent to end at 7,173.91.

The choppy trading on Wall Street came as traders seemed reluctant to make significant moves amid a lack of clarity about the situation in the Middle East after U.S.-Iran peace talks stalled over the weekend.

Traders are also likely to keep an eye on the Federal Reserve's monetary policy decision scheduled for Wednesday. While the Fed is widely expected to leave interest rates unchanged, the central bank's accompanying statement may provide clues about the outlook for rates.

Crude oil prices soared on Monday after the proposed U.S.-Iran negotiations were called off by the U.S. as supply disruption concerns continue. West Texas Intermediate crude for June delivery was up $2.32 or 2.46 percent at $96.72 per barrel.