The Taiwan stock market has risen four straight sessions, gaining over 1,550 points (3.4%), pushing the Taiwan Stock Exchange just above the 46,330‑point level, though investors may lock in gains on Monday.
The global outlook for Asian markets is subdued amid concerns about interest rates; European markets were higher, U.S. markets lower, and Asian markets are likely to follow the U.S. trend.
On Friday, the TSE edged up modestly as gains in financial and technology shares were offset by weakness in plastics and automotive stocks.
The index added 356.23 points (0.77%) to close at 46,331.45, trading between 46,070.83 and 46,574.52.
Wall Street’s lead was weak; major averages opened slightly higher Friday but slipped lower by midday and remained negative for the rest of the session.
The Dow fell 9.45 points (0.02%) to 53,559.99, the NASDAQ dropped 138.93 points (0.52%) to 26,402.42, and the S&P 500 slipped 19.23 points (0.25%) to 7,711.76. For the week, the NASDAQ rose 0.9%, while the Dow and S&P 500 each gained 0.5%.
The weakness on Wall Street followed Federal Reserve Chairman Kevin Warsh’s first speech at the Jackson Hole economic symposium, which was interpreted as having a hawkish tone.
Warsh warned that excessive sharing of policy deliberations and overcommitting to future decisions could mislead markets, businesses, and households, but noted the most troubling data concern the price‑stability leg of the Fed’s dual mandate.
After his remarks, the probability of a quarter‑point rate hike next month rose to 57.7% from 35.4%, according to the CME Group’s FedWatch Tool.
Crude oil prices slipped Friday as the U.S. shifted to economic pressure on Iran rather than military action, reducing the risk premium. West Texas Intermediate crude for October delivery fell $0.13 (0.16%) to $83.40 per barrel.
