BCYP

Big Cypress Acquisition Corp.

8.44
USD
-19.23%
8.44
USD
-19.23%
8.21 12.90
52 weeks
52 weeks

Mkt Cap 124.85M

Shares Out 14.79M

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Taiwan Stock Market Has Flat Lead For Monday

(RTTNews) - The Taiwan stock market moved higher again on Friday, one session after snapping the four-day winning streak in which it had spiked almost 700 points or 4.4 percent. The Taiwan Stock Exchange now sits just beneath the 16,150-point plateau although it's likely to be stuck in neutral on Monday. The global forecast for the Asian markets is flat to slightly higher, with support from oil stocks capped by weakness from tech shares. The European markets were slightly higher and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference. The TSE finished modestly higher on Friday following gains from the financial shares, technology stocks and cement companies. For the day, the index advanced 124.55 points or 0.78 percent to finish at 16,144.85 after trading between 16,058.20 and 16,181.66. Among the actives, Cathay Financial perked 0.38 percent, while Mega Financial climbed 1.37 percent, CTBC Financial collected 0.59 percent, Fubon Financial gathered 0.32 percent, First Financial jumped 1.55 percent, E Sun Financial gained 0.52 percent, Taiwan Semiconductor Manufacturing Company strengthened 1.53 percent, United Microelectronics Corporation fell 0.20 percent, Hon Hai Precision shed 0.47 percent, Largan Precision advanced 0.95 percent, Catcher Technology added 0.31 percent, MediaTek and Taiwan Cement both rose 0.12 percent, Delta Electronics rallied 2.03 percent, Novatek Microelectronics dipped 0.25 percent, Formosa Plastic increased 1.46 percent and Asia Cement improved 0.80 percent. Wall Street offers little guidance as the major averages opened higher on Friday, quickly plummeted into the red before rallying to finish mixed and little changed. The Dow added 8.77 points or 0.03 percent to finish at 31,261.90, while the NASDAQ fell 33.88 points or 0.30 percent to close at 11,354.62 and the S&P 500 rose 0.57 points or 0.01 percent to end at 3,901.36. For the week, the NASDAQ dove 3.8 percent, the S&P sank 3 percent and the Dow lost 2.9 percent. The extended volatility on Wall Street came as traders continued to debate when the markets will reach a bottom following recent weakness. The S&P 500 was down more than 20 percent from January's record closing high, which is seen as signaling a bear market. Crude oil futures settled higher on Friday, lifted by the proposed ban on Russian oil by the EU and the relaxation of Covid lockdowns in China. West Texas Intermediate Crude oil futures for July added $0.39 or 0.4 percent at $110.28 a barrel. Closer to home, Taiwan will provide April data for industrial production, retail sales and unemployment. In March, output rose 2.15 percent on year, retail sales gained 4.8 percent on year and the jobless rate was 3.70 percent. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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