More Pain Predicted For South Korea Stock Market

RTTNews | Před 896 dny
More Pain Predicted For South Korea Stock Market

(RTTNews) - The South Korea stock market headed south again on Thursday, one day after halting the two-day slide in which it had fallen more than 15 points or 0.7 percent. The KOSPI now rests just above the 2,360-point plateau and the losses may accelerate on Friday.

The global forecast for the Asian markets is decidedly soft on concerns about the economy and the outlook for interest rates. The European and U.S. bourses were sharply lower and the Asian markets are tipped to follow that lead.

The KOSPI finished sharply lower on Thursday following losses from the financial shares, technology stocks and industrials and chemical companies.

For the day, the index tumbled 1 38.28 points or 1.60 percent to finish at 2,360.97 after trading between 2,360.95 and 2,392.11. Volume was 366.15 million shares worth 6.03 trillion won. There were 540 decliners and 307 gainers.

Among the actives, Shinhan Financial dropped 0.92 percent, while KB Financial tanked 2.46 percent, Hana Financial plunged 3.47 percent, Samsung Electronics lost 1.98 percent, Samsung SDI slid 0.30 percent, LG Electronics declined 1.33 percent, SK Hynix tumbled 1.96 percent, Naver plummeted 5.68 percent, LG Chem shed 0.46 percent, Lotte Chemical stumbled 3.42 percent, S-Oil perked 0.11 percent, SK Innovation retreated 1.47 percent, POSCO sank 0.87 percent, SK Telecom skidded 1.00 percent, KEPCO rose 0.24 percent, Hyundai Mobis dipped 0.24 percent, Hyundai Motor slumped 0.92 percent and Kia Motors was unchanged.

The lead from Wall Street is broadly negative as the major averages opened sharply lower on Thursday and remained deep in the red throughout the session.

The Dow plummeted 773.26 points or 2.28 percent to finish at 33,193.09, while the NASDAQ plunged 356.54 points or 3.19 percent to close at 10.814.35 and the S&P 500 tumbled 99.45 points or 2.49 percent to end at 3,895.87.

Concerns about the outlook for interest rates continued to weigh on Wall Street after the Federal Reserve's monetary policy announcement on Wednesday was more hawkish than expected.

A batch of disappointing U.S. economic data also added to concerns the Fed's aggressive interest rate hikes will push the economy into a recession.

Retail sales dropped more than expected last month, as did industrial production. Also, the New York and Philadelphia Federal Reserves showed contractions in regional manufacturing activity in the month of December.

Crude oil futures settled lower on Thursday as concerns about easing supply following a partial restart of the Keystone Pipeline. The dollar's rise on hawkish comments by the Federal Reserve weighed as well on oil prices. West Texas Intermediate Crude oil futures for January ended lower by $1.17 or 1.5 percent at $76.11 a barrel.

read more
U.S. Economic Shrinks Slightly Less Than Previously Estimated In Q1

U.S. Economic Shrinks Slightly Less Than Previously Estimated In Q1

A report released by the Commerce Department on Thursday showed the U.S. economy shrank by slightly less than previously estimated in the first quarter of 2025. The Commerce Department said real gross domestic product edged down by a revised 0.2 percent in the first quarter compared to the previously reported 0.3 percent dip. Economists had expected the modest decrease to be unrevised.
RTTNews | Před 4 h 50 min
U.S. Weekly Jobless Claims Climb More Than Expected To 240,000

U.S. Weekly Jobless Claims Climb More Than Expected To 240,000

First-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 24th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 240,000, an increase of 14,000 from the previous week's revised level of 226,000. Economists had expected jobless claims to inch up to 230,000.
RTTNews | Před 4 h 52 min
Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Corp. is recalling around 256,185 pounds of canned beef stew product that may be contaminated with foreign material, specifically wood, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The Tucker, Georgia-based branded food major's recall involves 20-oz. metal cans containing "Dinty Moore BEEF STEW" with "BEST BY FEB 2028".
RTTNews | Před 5 h 26 min
UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK automotive manufacturing registered its weakest start to a year since 2009, the Society of Motor Manufacturers & Traders, or SMMT, said Thursday. Car and commercial vehicle production decreased 15.8 percent on a yearly basis to 59,203 units in April. Auto production fell to the lowest level for the month since 1952, excluding 2020 when the first Covid lockdown effectively saw manufacturing c
RTTNews | Před 5 h 54 min
Bay Street Looks Set To Start On Firm Note

Bay Street Looks Set To Start On Firm Note

Canadian shares look headed for a firm start on Thursday, with encouraging earnings by Royal Bank of Canada and Canadian Imperial Bank of Commerce, and a U.S. court ruling against U.S. President Donald Trump's sweeping tariff moves set to lift sentiment.
RTTNews | Před 6 h 9 min
U.S. Weekly Jobless Claims Rise More Than Expected

U.S. Weekly Jobless Claims Rise More Than Expected

First-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 24th, according to a report released by the Labor Department on Thursday.
RTTNews | Před 6 h 28 min