The Taiwan stock market has finished higher in two straight sessions, gathering more than 160 points or 1.6 percent in that span. The Taiwan Stock Exchange now rests just beneath the 10,490-point plateau and it's tipped to open in the green again on Tuesday.
The global forecast for the Asian markets is positive on renewed hopes for stimulus and optimism over trade talks between the United States and China. The European and U.S. markets were up and the Asian markets are tipped to open in similar fashion.
The TSE finished modestly higher on Monday following gains from the technology stocks and financial shares.
For the day, the index collected 67.86 points or 0.65 percent to finish at 10,488.75 after trading between 10,449.39 and 10,516.05.
Among the actives, Cathay Financial climbed 1.14 percent, while Mega Financial collected 0.18 percent, CTBC Financial fell 0.24 percent, Fubon Financial perked 0.46 percent, First Financial gathered 0.47 percent, E Sun Financial jumped 1.20 percent, Taiwan Semiconductor Manufacturing Company advanced 0.80 percent, United Microelectronics Corporation added 0.75 percent, Hon Hai Precision rose 0.56 percent, Largan Precision tumbled 2.09 percent, Catcher Technology gained 0.46 percent, MediaTek skyrocketed 9.63 percent, Asia Cement slid 0.23 percent, Taiwan Cement was up 0.40 percent and Formosa Plastic accelerated 0.99 percent.
The lead from Wall Street is solid as stocks moved significantly higher on Monday, continuing to offset the sell-off last Wednesday.
The Dow jumped 249.78 points or 0.96 percent to 26,135.79, while the NASDAQ climbed 106.82 points or 1.35 percent to 8,002.81 and the S&P 500 rose 34.97 points or 1.21 percent to 2,923.65.
The strength on Wall Street came amid a continued rebound in bond yields on optimism about new global stimulus. The People's Bank of China said it would use market-based reform methods to help lower real lending rates and prop up a slowing economy.
News that President Donald Trump's administration is once again delaying restrictions on Chinese tech giant Huawei also generated buying interest.
Crude oil futures settled sharply higher on Monday after a drone attack sparked fire in a remote Saudi oil and gas field, while renewed optimism about U.S.-China trade talks also fueled the surge. West Texas Intermediate crude oil futures for September ended up $1.33 or 2.4 percent at $56.14 a barrel.
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