Rebound Anticipated For Taiwan Stock Market

(RTTNews) - The Taiwan stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day slide in which it had dropped more than 1,300 points or 2.9 percent. The Taiwan Stock Exchange sits just above the 44,730-point plateau although it figures to bounce higher again on Wednesday.

The global forecast for the Asian markets is positive on an improved outlook for interest rates. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The TSE finished sharply lower on Tuesday following losses from the financial shares, technology stocks and plastics companies.

For the day, the index tumbled 642.57 points or 1.42 percent to finish at 44,737.95 after trading between 43,654.04 and 45,364.40.

The lead from Wall Street is fairly upbeat as the major averages opened mixed on Tuesday but all managed to be in the green by the day's end.

The Dow rose 10.02 points or 0.02 percent to finish at 52,508.66, while the NASDAQ jumped 233.83 points or 0.90 percent to close at 26,107.01 and the S&P 500 collected 28.54 points or 0.38 percent to end at 7,543.88.

The strength on Wall Street followed the release of a closely watched Labor Department report showing consumer prices in the U.S. fell more than expected in June.

The weaker-than-expected inflation data helped ease recent concerns about the outlook for inflation and the possibility of higher interest rates.

The ongoing conflict in the Middle East and a rebound in oil prices limited the upside.

Crude oil prices moved higher again on Tuesday amid concerns about the escalating conflict between the U.S. and Iran. West Texas Intermediate crude for August delivery was up $0.94 or 1.2 percent to $79.08 a barrel.