Taiwan Stocks Poised to Extend Rally as Wall Street Tech Gains Lift Asian Markets

Taiwan's stock market is expected to extend its rebound Thursday after the Taiwan Stock Exchange snapped a two-day losing streak, closing sharply higher on Wednesday. The index surged 594.84 points, or 1.28%, to finish at 46,887.77, after trading between 46,454.33 and 47,254.93. The rally was driven by gains across the plastic, chemical, energy, mineral and communication sectors. The TSE had shed nearly 820 points, or 1.7%, over the prior two sessions before Wednesday's advance. The positive lead from Wall Street supported sentiment. The Dow rose 360.21 points, or 0.69%, to 52,856.09; the NASDAQ gained 278.04 points, or 1.05%, to 26,702.86; and the S&P 500 added 44.60 points, or 0.58%, to 7,757.17. The NASDAQ's advance reflected tech-sector strength following earnings news from SpaceX (SPCX), Tesla (TSLA) and Super Micro Computer (SMCI). Crude oil prices edged lower on reports of progress in Strait of Hormuz shipping traffic, with West Texas Intermediate for December delivery down $0.69, or 0.71%, at $97.13 per barrel.