Additional Support Is Expected For Taiwan’s Stock Exchange

Taiwan’s stock market rose again on Monday, one session after interrupting a four-day winning streak in which it gained about 400 points, or 2.4 percent. The Taiwan Stock Exchange is currently trading just above the 16,500-point mark, with a strong lead for Tuesday’s activity.

The worldwide prediction for Asian markets is bullish due to an improved economic and interest rate outlook. The European and American markets were up, and Asian bourses are anticipated to follow suit.

On Monday, the TSE finished marginally higher after increases in financials, technology equities, and plastics.

The index finished the day up 27.68 points, or 0.17 percent, at 16,509.26 after trading between 16,498.86 and 16,582.96.

Wall Street is taking the lead, as the main averages opened higher on Monday, ebbed and flowed during the session, but finished solidly in positive territory.

The Dow rose 213.08 points, or 0.62 percent, to 34,559.98, while the NASDAQ rose 114.48 points, or 0.84 percent, to 13,705.13, and the S&P 500 rose 27.60 points, or 0.63 percent, to 4,433.31.

The stronger opening occurred as China announced stimulus to calm market volatility and boost economic growth. Over the weekend, Chinese authorities announced a raft of measures aimed at bolstering the country’s equity markets and stimulating expenditure. Stamp duty on stock trades was reduced by half, and the pace of initial public offerings was slowed.

Markets gained momentum after Fed Chair Jerome Powell voiced confidence in ongoing economic growth last week in Jackson Hole and reaffirmed the central bank’s commitment to returning inflation to the 2 percent target.

Crude oil prices rose on Monday on expectations that severe weather may disrupt energy activities along Florida’s Gulf Coast this week. October West Texas Intermediate Crude oil futures rose $0.27, or 0.3 percent, to $80.10 per barrel.