The Taiwan stock market moved higher ahead of the holiday, despite concerns of an escalation in the U.S.-China trade war. The market had ended a five-day winning streak but rallied 0.88 percent to close just above 27,300 points. Major financial and technology stocks saw mixed performances. However, the global markets were sharply lower, with the Dow, NASDAQ, and S&P 500 all plunging on Friday. President Trump’s threat to increase tariffs on Chinese products in retaliation for export controls on rare earths contributed to the sell-off. Crude oil prices also tumbled on the news, with West Texas Intermediate crude down 4.37 percent.

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