Taiwan Stocks Poised for Further Losses as Tech Selloff Deepens; TSE Fell 1.42% Thursday

Taiwan's stock market is expected to open lower Friday, extending a sharp reversal that ended a two-day rally of nearly 1,000 points. The Taiwan Stock Exchange fell 667.25 points, or 1.42%, to close at 46,368.33 on Thursday after trading between 46,055.07 and 47,015.45, with technology and semiconductor shares leading the decline. The negative lead came from Wall Street, where the NASDAQ tumbled 365.13 points, or 1.38%, to 26,184.72 as technology stocks came under pressure amid renewed concerns about artificial intelligence trade. Alphabet (GOOGL) plunged 13.2% after reporting weaker-than-expected third-quarter revenue and negative free cash flow. The Dow shed 0.25% to 52,342.56 and the S&P 500 lost 0.30% to 7,720.39. Taiwan will release preliminary third-quarter GDP data later today, with forecasts pointing to 12.00% growth, down from 12.93% in the prior quarter. December WTI crude fell $0.79, or 0.77%, to $101.99 a barrel on expectations of a possible de-escalation in the U.S.-Iran conflict.