Tech Shares May Extend KOSPI's Losing Streak

RTTNews | vor 33 Tagen

(RTTNews) - The South Korea stock market has moved lower in four straight sessions, slumping almost 125 points or 4.6 percent along the way. The KOSPI now sits just beneath the 2,585-point plateau and it figures to open in the red again on Thursday.

The global forecast for thew Asian markets is mixed to lower, with oil and technology stocks likely to weigh. The European markets were up and the U.S. bourses were down and the Asian markets figure to split the difference.

The KOSPI finished sharply lower again on Wednesday following losses from the financial shares, technology stocks and industrials.

For the day, the index dropped 25.45 points or 0.98 percent to finish at the daily low of 2,584.18 after peaking at 2,626.63. Volume was 400.5 million shares worth 9.5 trillion won. There were 456 decliners and 406 gainers.

Among the actives, Shinhan Financial dropped 1.22 percent, while KB Financial weakened 2.02 percent, Hana Financial tumbled 2.43 percent, Samsung Electronics retreated 1.38 percent, Samsung SDI eased 0.13 percent, LG Electronics fell 0.87 percent, SK Hynix dipped 0.22 percent, Naver perked 0.06 percent, LG Chem stumbled 1.70 percent, Lotte Chemical sank 2.73 percent, S-Oil tanked 4.08 percent, SK Innovation advanced 0.96 percent, POSCO surrendered 2.50 percent, SK Telecom shed 0.79 percent, KEPCO plunged 3.33 percent, Hyundai Mobis lost 1.47 percent, Hyundai Motor plunged 3.51 percent and Kia Motors slumped 1.39 percent.

The lead from Wall Street is soft as the major averages opened higher on Wednesday but quickly turned lower, spending most of the rest of the day in the red.

The Dow shed 45.66 points or 0.12 percent to finish at 37,753.31, while the NASDAQ tumbled 181.88 points or 1.15 percent to end at 15,683.37 and the S&P 500 sank 29.20 points or 0.58 percent to close at 5,022.21.

The lower close on Wall Street came on concerns about the outlook for interest rates following remarks by Federal Reserve Chair Jerome Powell, who suggested rates are likely to remain higher for longer amid a "lack of progress" toward reaching the central bank's inflation goal.

Weakness among technology stocks weighed on the tech-heavy NASDAQ as shares of Nvidia (NVDA) came under pressure, while the Philadelphia Semiconductor Index also slumped.

Crude oil prices tumbled on Wednesday, adding to modest losses in the two previous sessions after data showed a surge in U.S. crude oil inventories. West Texas Intermediate crude for May delivery plunged $2.67 or 3.1 percent to $82.69 a barrel.

Asian Markets Trade Mostly Lower

Asian stock markets are mostly lower on Tuesday, following the mixed cues from Wall Street overnight, amid lingering uncertainty about the outlook for interest rates, with some US Fed officials warning the central bank may still need to raise rates if inflation persists. Traders also seemed reluctant to make more significant bets ahead of the release of the minutes of the latest Fed meeting.

RTTNews | vor 4Std 14 Minuten

Japanese Market Slightly Higher

Adding the gains in the previous session, the Japanese stock market is slightly higher on Tuesday, with the Nikkei 225 moving above the 39,100 level, following the mixed cues from Wall Street overnight, with gains in some Index heavyweights and technology stocks.

RTTNews | vor 5Std 9 Minuten

Sensex, Nifty Seen Higher At Open

Indian shares are seen opening flat to higher on Tuesday despite mixed global cues, elevated geopolitical tensions and lingering uncertainty over the timing and pace of Fed rate cuts.

RTTNews | vor 5Std 11 Minuten

Thai Stock Market Called Higher On Tuesday

The Thai stock market on Monday ended the two-day winning streak in which it had picked up more than a dozen points or 0.9 percent. The Stock Exchange of Thailand now sits just beneath the 1,380-point plateau although it's expected to open to the upside on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with strength likely from the technology shares. The European markets were up and the U.S. bourses were mixed and the Asian markets are tipped to open to the upside.

RTTNews | vor 5Std 34 Minuten

RBA Minutes: Inflation Slowing Less Than Expected

Members of the Reserve Bank of Australia's Monetary Policy Board said that the country's economy was slowing and that inflation was declining less than expected, minutes from the central bank's May 7 meeting revealed on Tuesday.

RTTNews | vor 5Std 43 Minuten

Indonesia Shares May Reverse Monday's Losses

The Indonesia stock market on Monday snapped the three-day winning streak in which it had jumped more than 230 points or 3.3 percent. The Jakarta Composite Index now sits just beneath the 7,270-point plateau although it's expected to rebound on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with strength likely from the technology shares. The European markets were up and the U.S. bourses were mixed and the Asian markets are tipped to open to the upside. The JCI finished modestly lower on Monday following losses from the financial shares and mixed performances from the cement and resource companies. For the day, the index sank 50.55 points or 0.69 percent to finish at 7,266.69 after trading between 7,243.01 and 7,374.55. Among the actives, Bank CIMB Niaga sank 0.80 percent, while Bank Mandiri plunged 3.80 percent, Bank Danamon Indonesia fell 0.37 percent, Bank Negara Indonesia plummeted 3.77 percent, Bank Central Asia tanked 2.82 percent, Bank Rakyat Indonesia stumbled 2.03 percent, Indosat Ooredoo Hutchison surrendered 3.48 percent, Indocement rose 0.36 percent, Semen Indonesia slumped 1.72 percent, Indofood Sukses Makmur climbed 1.22 percent, United Tractors accelerated 2.47 percent, Astra International retreated 1.25 percent, Energi Mega Persada soared 2.07 percent, Astra Agro Lestari strengthened 1.64 percent, Aneka Tambang rallied 2.16 percent, Vale Indonesia skyrocketed 7.52 percent, Timah lost 0.51 percent, Bumi Resources spiked 2.17 percent and Perusahaan Perseroan and Jasa Marga were unchanged.

RTTNews | vor 6Std 4 Minuten

Australian Market Modestly Lower

The Australian stock market is modestly lower on Tuesday after opening in the green, giving up some of the gains in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying below the 7,900 level, with weakness in iron ore miners and energy stocks are partially offset by gains in technology stocks.

RTTNews | vor 6Std 7 Minuten

Higher Open Called For Hong Kong Stock Market

The Hong Kong stock market has moved higher in three straight sessions, climbing almost 560 points or 3 percent along the way. The Hang Seng Index now sits just above the 19,630-point plateau and it may see additional support on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with strength likely from the technology shares. The European markets were up and the U.S. bourses were mixed and the Asian markets are tipped to open to the upside.

RTTNews | vor 6Std 19 Minuten

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