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South Korea Shares Due For Support On Tuesday
Ahead of Monday's holiday for Children's Day, the South Korea stock market had ended lower in two straight sessions, slipping more than 15 points or 0.6 percent in that span. The KOSPI now sits just above the 2,675-point plateau although it figures to stop the bleeding on Tuesday.
The global forecast for the Asian markets is upbeat on renewed optimism over the outlook for interest rates. The European and U.S. markets were firmly higher and the Asian markets are predicted to open in similar fashion.
The KOSPI finished slightly lower on Friday as losses from the technology stocks and automobile companies were mitigated by support from the financial sector.
For the day, the index lost 7.02 points or 0.26 percent to finish at the daily low of at 2,676.63 after peaking at 2,705.26. Volume was 329.8 million shares worth 7.7 trillion won. There were 477 decliners and 390 gainers.
Among the actives, Shinhan Financial rallied 1.42 percent, while KB Financial jumped 1.94 percent, Hana Financial collected 1.75 percent, Samsung Electronics shed 0.51 percent, Samsung SDI retreated 1.24 percent, LG Electronics advanced 0.98 percent, SK Hynix fell 0.23 percent, Naver soared 3.07 percent, LG Chem was down 0.37 percent, Lotte Chemical strengthened 1.59 percent, S-Oil rose 0.29 percent, SK Innovation added 0.55 percent, POSCO climbed 1.13 percent, SK Telecom slid 0.39 percent, KEPCO lost 0.47 percent, Hyundai Motor plunged 3.21 percent, Kia Motors plummeted 4.77 percent and Hyundai Mobis was unchanged.
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TSX Ends Higher For 3rd Straight Day
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Australia Interest Rate Decision Due On Tuesday
The Reserve Bank of Australia will wrap up its monetary policy meeting and then announce its decision on interest rates, highlighting a modest day for Asia-Pacific economic activity. The RBA is widely expected to keep its benchmark lending rate unchanged at 4.35 percent.
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Dollar Drifts Lower On Rate Cut Bets
The U.S. dollar shed ground against its major counterparts on Monday with investors growing increasingly confident about a rate cut in the coming months.
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Canadian Market Up Sharply, Looks Headed For Buoyant Close
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Swiss Market Ends Higher Again
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European Stocks Close On Bright Note On Strong Data, Rate Cut Hopes
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