Soft Start Anticipated For South Korea Shares

RTTNews | 591 दिनों पहले
Soft Start Anticipated For South Korea Shares

(RTTNews) - The South Korea stock market on Friday ended the two-day winning streak in which it had picked up almost 80 points or 3.5 percent. The KOSPI now sits just above the 2,455-point plateau and it's expected to open under pressure again on Monday.

The global forecast for the Asian markets is soft on inflation worries and geopolitical concerns. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The KOSPI finished modestly lower on Friday following losses from the technology stocks, chemical companies and industrials.

For the day, the index dropped 23.67 points or 0.95 percent to finish at 2,456.15 after trading between 2,452.83 and 2,466.62. Volume was 576.69 million shares worth 7.06 trillion won. There were 593 decliners and 277 gainers.

Among the actives, Shinhan Financial dipped 0.14 percent, while KB Financial perked 0.18 percent, Hana Financial collected 0.58 percent, Samsung Electronics retreated 1.31 percent, Samsung SDI tumbled 1.68 percent, LG Electronics sank 0.85 percent, SK Hynix added 0.40 percent, Naver dropped 0.93 percent, LG Chem eased 0.19 percent, Lotte Chemical slumped 1.01 percent, S-Oil gained 0.54 percent, SK Innovation gathered 0.20 percent, POSCO skidded 1.16 percent, SK Telecom was up 0.10 percent, KEPCO slid 0.17 percent, Hyundai Mobis shed 0.64 percent, Hyundai Motor shed 0.48 percent and Kia Motors fell 0.36 percent.

The lead from Wall Street is mostly negative as the major averages opened higher on Friday but quickly headed south, although the Dow was able to recover before the close.

The Dow added 39.15 points or 0.12 percent to finish at 33,670.29, while the NASDAQ tumbled 166.99 points or 1.23 percent to end at 13,407.23 and the S&P 500 slumped 21.83 points or 0.50 percent to close at 4,327.78.

For the week, the Dow added 0.8 percent, the NASDAQ dipped 0.2 percent and S&P rose 0.5 percent.

Selling pressure emerged following the release of a report from the University of Michigan showing a slump in consumer sentiment and a surge in inflation expectations. The data generated some negative sentiment, although a decrease in treasury yields helped to limit the downside.

Traders also kept an eye on developments in the conflict in the Middle East between Israel and Hamas.

Oil prices rose sharply on Friday amid rising concerns about the potential impact on global crude supplies due to the ongoing conflict between Israel and Hamas. West Texas Intermediate Crude oil futures for November spiked $4.78 or 5.8 percent at $87.69 a barrel. WTI crude futures gained 6 percent in the week.

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 | 2घंटे 32 मिनट पहले
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 | 2घंटे 34 मिनट पहले
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 | 3घंटे 9 मिनट पहले
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 | 3घंटे 36 मिनट पहले
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 | 3घंटे 51 मिनट पहले
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 | 4घंटे 10 मिनट पहले