KOSPI: Resistance Expected At 2,400 Points

RTTNews | vor 890 Tagen

(RTTNews) - The South Korea stock market has alternated between positive and negative finishes through the last five trading days since the end of the three-day losing streak in which it had dropped more than 65 points or 2.8 percent. The KOSPI now rests just above the 2,395-point plateau and it's expected to turn lower again on Monday.

The global forecast for the Asian markets suggests consolidation on continued concerns over the health of financial institutions. The European and U.S. markets were down and the Asian bourses figure to follow that lead.

The KOSPI finished modestly higher on Friday following gains from the financials, technology stocks and automobile producers, while the chemicals were soft.

For the day, the index improved 17.78 points or 0.75 percent to finish at 2,395.69. Volume was 8.38 trillion won. There were 672 gainers and 224 decliners.

Among the actives, Shinhan Financial rose 0.29 percent, while KB Financial collected 0.83 percent, Hana Financial jumped 1.60 percent, Samsung Electronics rallied 2.34 percent, Samsung SDI tanked 2.44 percent, LG Electronics added 0.34 percent, SK Hynix skyrocketed 6.33 percent, Naver added 0.46 percent, LG Chem plunged 3.84 percent, Lotte Chemical tumbled 2.22 percent, S-Oil perked 0.26 percent, SK Innovation sank 0.80 percent, POSCO shed 0.62 percent, SK Telecom lost 0.74 percent, KEPCO soared 3.76 percent, Hyundai Mobis advanced 1.40 percent, Hyundai Motor accelerated 1.49 percent and Kia Motors strengthened 1.39 percent.

The lead from Wall Street is negative as the major averages opened lower on Friday and pretty much stayed that way throughout the session.

The Dow tumbled 384.62 points or 1.19 percent to finish at 31,861.98, while the NASDAQ slumped 86.79 points or 0.74 percent to close at 11,630.51 and the S&P 500 dropped 43.64 points or 1.10 percent to end at 3,916.64. For the week, the NASDAQ soared 4.4 percent, the S&P 500 rose 1.4 percent and the Dow eased 0.2 percent.

The pullback on Wall Street came as traders looked to cash in on Thursday's rally amid lingering concerns about turmoil in the financial sector.

Traders also looked ahead to Wednesday's Federal Reserve's monetary policy announcement. CME Group's FedWatch tool currently indicates a 43.2 percent chance the Fed will leave rates unchanged and a 56.8 percent chance of a 25 basis point rate hike.

In economic news, the Fed said U.S. industrial production was unexpectedly unchanged in February. Also, the University of Michigan said consumer sentiment in the U.S. fell for the first time in four months in March.

Crude oil prices sank Friday as rising concerns about the health of the banking sector continued to fuel worries about economic growth and the outlook for energy demand. West Texas Intermediate Crude oil futures for April dropped $1.61 or 2.4 percent at $66.74 a barrel. WTI crude futures tumbled 13 percent in the week.

Sensex, Nifty Seen Lower As US Notifies India Of Additional Tariffs

Indian shares may open on a weak note on Tuesday as enthusiasm over potential Federal Reserve rate cuts faded and caution set in ahead of the release of crucial U.S. inflation data as well as Nvidia quarterly results.

RTTNews | vor 34 Minuten

Lower Open Called For Thai Stock Market

The Thai stock market has finished higher in two straight sessions, collecting almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau although it figures to open in the red on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | vor 1Std 14 Minuten

Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

RTTNews | vor 1Std 41 Minuten

Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | vor 1Std 44 Minuten

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | vor 1Std 59 Minuten

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | vor 2Std 2 Minuten

China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | vor 2Std 14 Minuten

Taiwan Bourse May Hand Back Monday's Gains

The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02. Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.

RTTNews | vor 2Std 44 Minuten

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