Win Streak Expected To End For South Korea Shares

RTTNews | Před 1001 dny
Win Streak Expected To End For South Korea Shares

(RTTNews) - The South Korea stock market has moved higher in two straight sessions, advancing more than 45 points or 1.8 percent along the way. The KOSPI now rests just above the 2,470-point plateau although it may be stuck in neutral on Thursday.

The global forecast for the Asian markets is broadly negative on inflation and interest rate concerns. The European and U.S. markets were down on Wednesday and now the Asian markets are expected to open in similar fashion.

The KOSPI finished modestly higher on Wednesday following gains from the industrials, chemicals and technology stocks, while the oil companies were down and the financials were mixed.

For the day, the index advanced 21.12 points or 0.86 percent to finish at 2,472.05 after trading between 2,426.14 and 2,473.75. Volume was 397 million shares worth 8.7 trillion won. There were 538 gainers and 281 decliners.

Among the actives, Shinhan Financial jumped 2.09 percent, while KB Financial fell 0.30 percent, Hana Financial collected 1.16 percent, Samsung Electronics strengthened 1.53 percent, Surged 3.46 percent, LG Electronics spiked 3.59 percent, SK Hynix rallied 2.15 percent, Naver gained 0.84 percent, LG Chem soared 3.44 percent, Lotte Chemical added 0.57 percent, S-Oil plunged 3.33 percent, SK Innovation tumbled 3.31 percent, POSCO perked 0.39 percent, SK Telecom rose 0.19 percent, KEPCO climbed 0.96 percent, Hyundai Motor added 0.26 percent and Kia Motors advanced 0.87 percent.

The lead from Wall Street is soft as the major averages shook off a positive open on Wednesday, hugging the line for much of the day before a late slide pushed them firmly into the red for the fourth straight session.

The Dow tumbled 280.44 points or 0.88 percent to finish at 31,510.43, while the NASDAQ slumped 66.93 points or 0.56 percent to close at 11,816.20 and the S&P 500 sank 31.16 points or 0.78 percent to end at 3,955.00.

The continued weakness on Wall Street reflected lingering concerns about higher interest rates following some hawkish comments from Federal Reserve officials.

Exacerbating those concerns, Eurozone inflation hit a new record in August and added further pressure on the European Central Bank to tighten policy more aggressively as soon as next week.

In economic news, payroll processor ADP said that private sector employment in the U.S. increased by much less than expected in August.

Crude oil prices saw further downside on Wednesday, extending recent losses on concerns about the outlook for the global economy after the Eurozone's record high inflation report. West Texas Intermediate for October delivery tumbled $2.09 or 2.3 percent to $89.55 a barrel.

Closer to home, South Korea will release final Q2 numbers for gross domestic product this morning. In the three months prior, GDP expanded 0.6 percent on quarter and 3.0 percent on year.

South Korea also will see August figures for imports, exports and trade balance. Imports are expected to jump 22.9 percent on year, up from 21.8 percent in July. Exports are called higher by an annual 5.5 percent, down from 9.4 percent in the previous month. The trade deficit is pegged at $8 billion following the $4.67 billion shortfall a month earlier.

read more
Renewed Selling Pressure Expected For Taiwan Shares

Renewed Selling Pressure Expected For Taiwan Shares

The Taiwan stock market on Wednesday ended the four-day losing streak in which it had given up more than 460 points or 2.2 percent. The Taiwan Stock Exchange now sits just above the 21,350-point plateau although it may head south again on Thursday.
RTTNews | Před 20 minutami
Singapore Bourse May Run Out Of Steam On Thursday

Singapore Bourse May Run Out Of Steam On Thursday

The Singapore stock market has moved higher in two straight sessions, advancing more than 35 points or 0.9 percent along the way. The Straits Times Index now sits just above the 3,910-point plateau although the rally may stall on Thursday.
RTTNews | Před 50 minutami
Losing Streak May Continue For Malaysia Stock Market

Losing Streak May Continue For Malaysia Stock Market

The Malaysia stock market has moved lower in three straight sessions, slipping more than a dozen points or 0.9 percent in that span. The Kuala Lumpur Composite Index now sits just beneath the 1,525-point plateau and it's looking at another soft start again on Thursday.
RTTNews | Před 1 h 20 min
Japan Stock Market May Extend Wednesday's Losses

Japan Stock Market May Extend Wednesday's Losses

The Japan stock market on Wednesday snapped the three-day winning streak in which it had collected almost 750 points or 2 percent. The Nikkei 225 now sits just above the 27,720-point plateau and it may take further damage on Thursday.
RTTNews | Před 1 h 35 min
KOSPI Likely To Remain Rangebound

KOSPI Likely To Remain Rangebound

The South Korea stock market has moved higher in two of three trading days since the end of the two-day slide in which it had given up almost 35 points or 1.4 percent. The KOSPI now rests just above the 2,670-point plateau and it may hand back some of those gains on Thursday.
RTTNews | Před 1 h 50 min
Korea Rate Decision Due On Thursday

Korea Rate Decision Due On Thursday

The Bank of Korea will wrap up its monetary policy meeting and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The BoK is widely expected to keep its benchmark lending rate unchanged at 2.75 percent.
RTTNews | Před 2 h 50 min
Swiss Market Ends Notably Lower

Swiss Market Ends Notably Lower

Swiss stocks turned in a weak performance on Wednesday, losing ground gradually after opening marginally down, as uncertainty about U.S. government's trade policies rendered the mood cautious.
RTTNews | Před 7 h 32 min