Taiwan Stocks Poised for Second Straight Gain as Tech Rally, Wall Street Strength Lift TSE

Taiwan's stock market is expected to open higher on Wednesday, extending a rebound after the Taiwan Stock Exchange snapped a three-day slump that had erased almost 3,200 points, or 7 percent. The benchmark closed at a session high of 44,232.87 on Tuesday, surging 1,783.17 points, or 4.20 percent. Technology stocks led Tuesday's advance, with financials and plastics also gaining. The rally tracked a firm Wall Street session, where the Dow rose 0.74 percent to 52,224.64, the NASDAQ climbed 1.29 percent to 25,837.21 and the S&P 500 added 0.89 percent to 7,509.20, helped by upbeat earnings from 3M (MMM), General Motors (GM) and Novartis (NVS). Semiconductor shares outperformed, with the Philadelphia Semiconductor Index jumping 5.2 percent. Separately, Taiwan is set to release June unemployment data later today; the jobless rate stood at 3.32 percent in May.