Taiwan stock market maybe even a fair squeaky resistance at 23,000 aspects

(RTTNews) – Taiwan’s stock market ended a three-day rush on Friday that saw it fall more than 425 picks, or 2pc. again on Monday.

The outlook for Asian markets is upbeat, with tech and oil stocks specifically expected to tighten. European markets fell while US stocks rose, with Asian markets expected to take advantage of the latter.

The TSE ended Friday moderately higher on the combined performance of cash stocks and technology stocks, while weakness in the plastics sector capped gains.

For the day, the index added 76.24 picks, or 0.33 percent, to settle at 22,908.30 after buying and selling between 22,905.40 and 23,092.07.

Among many actives, Cathay Financial shed 0.29pc, while Mega Financial gained 0.79pc, First Financial gained 0.18pc, E Sun Financial fell 0.19pc, Taiwan Semiconductor Manufacturing Firm developed by 0.94pc, United Microelectronics Corporation declined 1.37pc, Hon Hai Precision sank 0.82pc, Largan Precision fell 1.34pc, Catcher Technology shed 0.77pc, MediaTek climbed 1.11pc, Delta Electronics lost 0.72pc, Novatek Microelectronics stumbled 2.08pc, Formosa Plastics slipped 1.15pc, Nan Ya Plastics fell 1.17pc, Asia Cement changed 0.37pc lower, while CTBC Financial and Fubon Financial were unchanged.

Wall Road management is upbeat as the major averages opened higher on Friday and remained flat throughout the day, finishing at session highs.

The Dow jumped 339.83 picks, or 0.80 percent, to settle at 42,732.13, while the NASDAQ gained 340.88 picks, or 1.77 percent, to close at 19,621.68 and the S&P 500 climbed up 73.92 picks, or 1.26 percent, to end at 5,942.47.

In the week interrupted by the holiday, the Dow slipped 0.6 percent, while the NASDAQ and S&P 500 both fell 0.5 percent.

The strength on Wall Road came as traders sought to acquire stocks at moderately lower levels following weakness in the most popular stocks. Some traders stayed away from their desks even after the New Year holiday on Wednesday.

In US economic news, the Institute for Supply Management confirmed that manufacturing jobs fell at a lower price in December.

Oil prices rose on Friday on optimism over the outlook for the most popular data showing a drop in U.S. crude inventories. West Texas Intermediate Uncouth crude futures for February settled up $0.83, or 1.13 percent, at $73.96 a barrel.

The views and opinions expressed herein are those of the author and are not necessarily those of Nasdaq, Inc.