TAIEX is consolidating, minister says
BUBBLE INSURANCE? First Capital Management chairman Edward Chen said that the corrections reduce bubble pressure and steady the TAIEX after a rise in margin trading
By Crystal Hsu / Staff reporter
Minister of Finance Su Jain-rong (蘇建榮) yesterday urged investors to remain calm, calling declines in the local bourse on Monday and yesterday a common period of consolidation following last month’s recurrent rallies to record highs on the back of an economic boom.
The TAIEX yesterday shed 288.57 points, or 1.68 percent, to 16,933.78 on an unprecedented turnover of NT$664.2 billion (US$23.762 billion) amid panic selling by day traders, analysts said.
Nasdaq Turns Negative But Dow, S&P 500 Remain Positive
WASHINGTON (dpa-AFX) - After moving to the upside early in the session, the major U.S. stock indexes have turned mixed over the course of the trading day on Monday. While the Dow and the S&P 500 are holding on to gains, the tech-heavy Nasdaq has pulled back into negative territory.
Currently, the major averages remain on opposite sides of the unchanged line. The Nasdaq is down 39.42 points or 0.3 percent at 13,923.26, but the Dow is up 314.91 points or 0.9 percent at 34,189.76 and the S&P 500 is up 18.35 points or 0.4 percent at 4,199.52.
The early strength on Wall Street partly reflected recent upward momentum, which helped propel the S&P 500 and the Nasdaq to new record highs last week.
S&P 500 Pulls Back Off Yesterday s Record Closing High
WASHINGTON (dpa-AFX) - Stocks have moved mostly lower in morning trading on Friday, giving back ground following the advance seen in the previous session. The major averages have all moved to the downside, although selling pressure appears somewhat subdued.
Currently, the major averages are all in negative territory, but the Nasdaq is down just 10.37 points or 0.1 percent at 14,072.18. The Dow is down 145.63 points or 0.4 percent at 33,914.73 and the S&P 500 is down 16.20 points or 0.4 percent at 4,195.27.
The early weakness on Wall Street may partly reflect profit taking after the upward move seen on Thursday lifted the S&P 500 to a new record closing high.
U.S. Stocks Give Back Ground But Post Strong Gains For April
WASHINGTON (dpa-AFX) - Stocks moved mostly lower during trading on Friday, giving back ground following the advance seen in the previous session. The tech-heavy Nasdaq staged a recovery attempt in morning trading but quickly rejoined the Dow and S&P 500 in the red.
The major averages all closed firmly in negative territory. The Dow slid 185.51 points or 0.5 percent to 33,874.85, the Nasdaq dropped 119.87 points or 0.9 percent to 13,962.68 and the S&P 500 fell 30.30 points or 0.7 percent to 4,181.17.
For the week, the S&P 500 was nearly unchanged, while the Dow and the Nasdaq dipped by 0.5 percent and 0.4 percent, respectively.
U.S. Stocks Remain Mostly Lower After Early Pullback
WASHINGTON (dpa-AFX) - After coming under pressure early in the session, stocks remain mostly lower in mid-day trading on Friday. The Nasdaq briefly bounced above the unchanged line in morning trading but has rejoined the Dow and S&P 500 in negative territory since then.
Currently, the major averages are all in the red. The Dow is down 211.95 points or 0.6 percent at 33,848.41, the Nasdaq is down 61.06 points or 0.4 percent at 14,021.48 and the S&P 500 is down 25.25 points or 0.6 percent at 4,186.22.
The weakness on Wall Street may partly reflect profit taking after the upward move seen on Thursday lifted the S&P 500 to a new record closing high.