Win Streak Likely To End For South Korea Shares

RTTNews | il y a 797
Win Streak Likely To End For South Korea Shares

(RTTNews) - The South Korea stock market has moved higher in six straight sessions, collecting more than 80 points or 3.2 percent along the way. The KOSPI now rests just above the 2,555-point plateau although it may be stuck in neutral on Tuesday.

The global forecast for the Asian markets is soft, thanks to the uncertainty surrounding the U.S. debt ceiling situation. The European and U.S. bourses were mostly lower and little changed and the Asian markets figure to follow that lead.

The KOSPI finished modestly higher on Monday following gains from the industrials, technology stocks and energy companies, while the financials and chemicals wee mixed.

For the day, the index gained 19.29 points or 0.76 percent to finish at 2,557.08 after trading between 2,533.50 and 2,564.09. Volume was 583.13 million shares worth 8.04 trillion won. There were 634 gainers and 235 decliners.

Among the actives, Shinhan Financial collected 0.28 percent, while KB Financial fell 0.30 percent, Hana Financial lost 0.48 percent, Samsung Electronics perked 0.15 percent, Samsung SDI gathered 0.29 percent, LG Electronics strengthened 0.35 percent, SK Hynix advanced 0.92 percent, Naver shed 0.69 percent, LG Chem rose 0.29 percent, Lotte Chemical slid 0.40 percent, S-Oil increased 0.40 percent, SK Innovation jumped 1.75 percent, POSCO improved 1.23 percent, SK Telecom sank 0.70 percent, KEPCO added 0.54 percent, Hyundai Mobis climbed 1.10 percent, Hyundai Motor accelerated 0.97 percent and Kia Motors was up 0.11 percent.

The lead from Wall Street is uninspired as the major averages opened slightly higher but quickly headed south. They staged a modest recovery as the day progressed, although the Dow never managed to escape from negative territory.

The Dow dropped 140.05 points or 0.42 percent to finish at 33,286.58, while the NASDAQ climbed 62.88 points or 0.50 percent to close at 12,720.78 and the S&P 500 rose 0.65 points or 002 percent to end at 4,192.63.

The weakness on Wall Street came as investors largely refrained from making significant moves as they awaited updates on debt ceiling negotiations between President Joe Biden and House Speaker Kevin McCarthy, R-Calif., which so far have not found a resolution.

Treasury Secretary Yellen said on Sunday that the likelihood of the Treasury paying all U.S. bills by June 15 is getting smaller each day.

Concerns over the outlook for interest rates also weighed as Federal Reserve Bank of St. Louis President James Bullard said that he backed two more increases.

Crude oil prices pared early losses and settled higher on Monday, amid hopes the U.S. lawmakers will reach a debt ceiling deal soon and help the nation avoid a default. West Texas Intermediate crude oil futures for June settled at $71.99 a barrel, up $0.44 or 0.6 percent on the expiration day.

read more
Tesla, Samsung Sign $16.54 Bln Chip Deal; Shares Gain

Tesla, Samsung Sign $16.54 Bln Chip Deal; Shares Gain

EV major Tesla Inc. and South Korean chip maker Samsung Electronics Co. Ltd. have entered into a contract worth around 22.76 trillion Korean Won or $16.54 billion for semiconductor contract manufacturing. Tesla founder and CEO Elon Musk in a post on the social media platform confirmed that Samsung will be making Tesla's next-generation AI6 chip.
RTTNews | il y a 2h 7min
Bay Street Likely To Open Higher

Bay Street Likely To Open Higher

Canadian shares may open on a positive note Monday morning following the U.S. and European Union agreeing on a trade deal.
RTTNews | il y a 3h 25min
FTSE 100 Retreats After Positive Start, Down Marginally

FTSE 100 Retreats After Positive Start, Down Marginally

The U.K. market is down slightly a little past noon on Monday, having shed early gains, as investors await a slew of corporate earnings announcements due this week. Reports about the EU and U.S. arriving at a trade deal lifted sentiment in European markets this morning, but most of the major markets are off early highs with the focus shifting to earnings and economic data.
RTTNews | il y a 4h 23min
CAC 40 Up Over 0.5% As Trade Tensions Ease

CAC 40 Up Over 0.5% As Trade Tensions Ease

After opening on a firm note, French stocks gave up some gains Monday morning as investors turned a bit cautious, looking ahead to some crucial earnings and economic data due this week. The positive start came amid easing concerns over tariff as the U.S. and EU arrived at a trade deal over the weekend.
RTTNews | il y a 4h 43min
DAX Pares Gains After Bright Start

DAX Pares Gains After Bright Start

German stocks opened on a firm note Monday morning as trade war concerns eased after the U.S. and the European Union agreed on a trade deal. However, the market pared most of its gains subsequently as investors look ahead to some crucial earnings updates and economic data this week.
RTTNews | il y a 5h 6min
European Shares Rise As Tariff Worries Ease

European Shares Rise As Tariff Worries Ease

European stocks rose to hit a four-month high on Monday after the U.S. and European Union agreed on a hard-fought deal, helping avert a potentially damaging trade war.
RTTNews | il y a 6h 55min