The Taiwan stock market has finished higher now in 10 straight sessions, surging more than 530 points or 5.1 percent on its way to a 27-year closing high. The Taiwan Stock Exchange now rests just beneath the 10,775-point plateau and it's expected to open higher again on Tuesday.
The global forecast for the Asian markets suggests mild upside thanks to firm economic data and continued support from crude oil prices. The European and U.S. markets were slightly higher and the Asian bourses figure to follow suit.
The TSE finished modestly higher on Monday following gains from the financial shares, technology stocks and steel producers.
For the day, the index picked up 50.12 points or 0.47 percent to finish at the daily high of 10,774.21 after moving as low as 10,723.37 on turnover of 125.66 billion Taiwan dollars.
Among the actives, Largan Precision soared 4.05 percent, while Hon Hai Precision climbed 1.39 percent, Taiwan Semiconductor Manufacturing Company added 0.21 percent, Innolux gained 0.36 percent, AU Optronics advanced 0.82 percent, Catcher Technology shed 0.16 percent, Cathay Financial collected 0.51 percent, Mega Financial picked up 0.21 percent, Fubon Financial gathered 0.31 percent, Taiwan Steel spiked 1.85 percent and China Steel perked 0.61 percent.
The lead from Wall Street is positive as stocks moved modestly higher on Monday, extending recent gains and hitting fresh record closing highs.
The Dow advanced 85.24 points or 0.37 percent to 22,956.96, while the NASDAQ climbed 18.20 points or 0.28 percent to 6,624.00 and the S&P 500 rose 4.47 points or 0.18 percent to 2,557.64.
Traders digested remarks by Federal Reserve Chair Janet Yellen, who spoke over the weekend and reiterated her belief that additional gradual interest rate hikes are likely over the next few years.
In economic news, the Federal Reserve Bank of New York said manufacturing firms in New York reported that business activity continued to expand strongly in October.
Crude oil futures continued to rise Monday amid turbulence in the Middle East and hopes for further demand from China. November WTI oil settled at $51.87/bbl, up 42 cents or 0.8 percent - the highest since September 27.
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