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Tech Shares May Lift South Korea Stock Market

RTTNews | 1 day ago

(RTTNews) - The South Korea stock market has finished lower in two of three days since ending the 11-day winning streak in which it had surged more than 300 points or 9.6 percent. The KOSPI sits just above the 3,440-point plateau and it may tick higher again on Monday.

The global forecast for the Asian markets is mixed to higher on continued optimism over the outlook for interest rates. The European markets were slightly lower and the U.S. bourses were up and the Asian markets figure to split the difference.

The KOSPI finished modestly lower on Friday following profit taking among the technology, chemical and automobile stocks, while the financial shares came in mixed.

For the day, the index shed 16.06 points or 0.46 percent to finish at 3,445.24 after trading between 3,434.61 and 3,467.89. Volume was 339.5 million shares worth 14.18 trillion won. There were 635 decliners and 242 gainers.

Among the actives, Shinhan Financial climbed 1.16 percent, while KB Financial sank 0.77 percent, Hana Financial collected 0.11 percent, Samsung Electronics dropped 0.99 percent, Samsung SDI tumbled 2.53 percent, LG Electronics plunged 3.77 percent, Naver retreated 1.89 percent, LG Chem tanked 3.32 percent, Lotte Chemical lost 2.65 percent, SK Innovation slumped 2.53 percent, POSCO Holdings fell 0.53 percent, SK Telecom dipped 0.36 percent, KEPCO declined 2.60 percent, Hyundai Mobis plummeted 2.84 percent, Hyundai Motor stumbled 2.06 percent, Kia Motors shed 0.49 percent and SK Hynix was unchanged.

The lead from Wall Street is upbeat as the major averages opened higher on Friday and remained in the green throughout the session, hitting fresh record closing highs.

The Dow jumped 172.85 points or 0.37 percent to finish at 46,315.27, while the NASDAQ climbed 160.75 points or 0.72 percent to end at 22,631.48 and the S&P 500 added 32.40 points or 0.49 percent to close at 6,664.36.

For the week, the NASDAQ surged 2.2 percent, while the S&P gained 1.2 percent and the Dow rose 1.1 percent.

Optimism about lower interest rates has contributed to the strength on Wall Street, with the Federal Reserve cutting rates by a quarter point on Wednesday and signaling two more rate cuts this year.

Overall trading activity appeared somewhat subdued, however, as a lack of major U.S. economic data kept some traders on the sidelines.

Crude oil dropped on Friday as traders dissected the Federal Reserve's message, hinting at underlying risks to the economy and stoking demand concerns. West Texas Intermediate crude for October delivery was down $0.91 or 1.43 percent at $62.66 per barrel.

Taiwan Shares Tipped To Open In The Green On Tuesday

The Taiwan stock market has alternated between positive and negative finishes through the last six trading days since the end of the eight-day winning streak in which it had surged more than 1,450 points or 5.8 percent. The Taiwan Stock Exchange now sits just above the 25,880-point plateau and it may see additional support on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The TSE finished sharply higher on Monday following gains from the financial shares, technology stocks, plastics and cement companies. For the day, the index jumped 302.23 points or 1.18 percent to finish at 25,880.60 after trading between 25,599.60 and 25,887.69. Among the actives, Cathay Financial perked 0.17 percent, while Mega Financial fell 0.36 percent, First Financial collected 0.34 percent, Fubon Financial was up 0.16 percent, Taiwan Semiconductor Manufacturing Company soared 2.37 percent, United Microelectronics Corporation shed 0.46 percent, Hon Hai Precision advanced 0.93 percent, Largan Precision improved 0.85 percent, Catcher Technology gained 0.53 percent, MediaTek tanked 2.43 percent, Delta Electronics rallied 2.14 percent, Novatek Microelectronics stumbled 2.68 percent, Formosa Plastics added 0.65 percent, Nan Ya Plastics soared 3.31 percent, Asia Cement jumped 1.79 percent and CTBC Financial and E Sun Financial were unchanged. The lead from Wall Street is mildly positive as the major averages opened in the red on Monday but quickly bounced higher and continued to trend that way throughout the session, ending near daily highs.

RTTNews | 15 minutes ago

Singapore Stock Market Overdue For Support On Tuesday

The Singapore stock market has finished lower in seven straight sessions, slumping more than 55 points or 1.3 percent along the way. The Straits Times Index now sits just beneath the 4,300-point plateau although it may find traction on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The STI finished slightly lower again on Monday following losses from the financial shares and mixed performances from the property stocks and industrial issues. For the day, the index dipped 5.34 points or 0.12 percent to finish at 4,297.37 after trading between 4,291.99 and 4,315.70. Among the actives, CapitaLand Integrated Commercial Trust shed 0.44 percent, while CapitaLand Investment tumbled 1.11 percent, City Developments jumped 1.19 percent, Comfort DelGro sank 0.67 percent, DBS Group lost 0.34 percent, DFI Retail Group and Venture Corporation both rallied 1.58 percent, Genting Singapore advanced 0.66 percent, Hongkong Land plunged 3.42 percent, Keppel Ltd improved 0.57 percent, Oversea-Chinese Banking Corporation was down 0.12 percent, Seatrium Limited tanked 1.68 percent, SembCorp Industries fell 0.33 percent, Singapore Technologies Engineering increased 0.47 percent, SingTel stumbled 1.59 percent, Thai Beverage climbed 1.09 percent, United Overseas Bank eased 0.06 percent, UOL Group slipped 0.13 percent, Yangzijiang Financial surged 1.67 percent, Yangzijiang Shipbuilding dropped 0.91 percent and Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust, Mapletree Logistics Trust, CapitaLand Ascendas REIT, Keppel DC REIT, Wilmar International, SATS and Frasers Logistics & Commercial Trust were unchanged. The lead from Wall Street is mildly positive as the major averages opened in the red on Monday but quickly bounced higher and continued to trend that way throughout the session, ending near daily highs.

RTTNews | 45 minutes ago

South Korea Producer Prices Slip 0.1% In August

Producer prices in South Korea were down a seasonally adjusted 0.1 percent on month in August, the Bank of Korea said on Tuesday - after rising 0.4 percent in July.

RTTNews | 55 minutes ago

Australia Manufacturing PMI Slips To 51.6 - S&P Global

The manufacturing sector in Australia continued to expand in September, albeit at a slower pace, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 51.6.

RTTNews | 1h 0min ago

Malaysia Stock Market May See Additional Support On Tuesday

The Malaysia stock market on Monday ended the two-day slide in which it had fallen almost 15 points or 0.9 percent. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau and it may add to its winnings on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The KLCI finished slightly higher on Monday following gains from the financial shares, losses from the telecoms and a mixed picture from the plantation stocks. For the day, the index rose 5.11 points or 0.32 percent to finish at 1,603.34 after trading between 1,596.46 and 1,604.31. Among the actives, 99 Speed Mart Retail sank 0.76 percent, while AMMB Holdings jumped 1.26 percent, Axiata plunged 2.95 percent, Celcomdigi slumped 1.06 percent, CIMB Group strengthened 1.11 percent, Gamuda surged 3.08 percent, IHH Healthcare and Maybank both added 0.41 percent, IOI Corporation eased 0.26 percent, Kuala Lumpur Kepong lost 0.50 percent, Maxis was down 0.27 percent, MISC dropped 0.93 percent, MRDIY soared 1.91 percent, Nestle Malaysia spiked 1.88 percent, Petronas Chemicals increased 0.45 percent, Petronas Dagangan plummeted 3.04 percent, Petronas Gas retreated 1.08 percent, PPB Group slipped 0.39 percent, Press Metal shed 0.53 percent, Public Bank improved 0.71 percent, QL Resources tanked 2.05 percent, RHB Bank collected 0.61 percent, Sime Darby stumbled 2.33 percent, SD Guthrie advanced 0.95 percent, Sunway rallied 1.86 percent, Telekom Malaysia fell 0.42 percent, Tenaga Nasional rose 0.30 percent, YTL Corporation gained 0.37 percent and YTL Power climbed 0.96 percent. The lead from Wall Street is mildly positive as the major averages opened in the red on Monday but quickly bounced higher and continued to trend that way throughout the session, ending near daily highs.

RTTNews | 1h 15min ago

KOSPI May Extend Its Gains On Tuesday

The South Korea stock market has alternated between positive and negative finishes through the last four trading days since the end of the 11-day winning streak in which it had surged more than 300 points or 9.6 percent. Now at a fresh record closing high, the KOSPI sits just beneath the 3,470-point plateau and it may tick higher again on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The KOSPI finished modestly higher on Monday following gains from the automobile producers and mixed performances from the financial shares, chemicals and technology stocks. For the day, the index added 23.41 points or 0.68 percent to finish at 3,468.65 after trading between 3,458.87 and 3,482.25. Volume was 280.84 million shares worth 11.84 trillion won. There were 545 decliners and 332 gainers. Among the actives, Shinhan Financial fell 0.43 percent, while KB Financial collected 0.34 percent, Hana Financial dipped 0.33 percent, Samsung Electronics surged 4.77 percent, Samsung SDI rallied 2.82 percent, LG Electronics improved 0.76 percent, SK Hynix shed 0.57 percent, Naver sank 0.85 percent, LG Chem jumped 1.69 percent, Lotte Chemical lost 0.76 percent, SK Innovation perked 0.19 percent, POSCO Holdings dropped 0.88 percent, SK Telecom slumped 0.72 percent, KEPCO advanced 0.98 percent, Hyundai Mobis strengthened 1.46 percent, Hyundai Motor accelerated 1.87 percent and Kia Motors rose 0.30 percent.

RTTNews | 1h 45min ago

U.S. Dollar Declines Amid Rate Cut Hopes

The U.S. dollar weakened against its major counterparts in the New York session on Monday, amid growing expectations of future rate cuts from the Federal Reserve.

RTTNews | 2h 13min ago

Singapore Inflation Data Due On Tuesday

Singapore will on Tuesday release August numbers for consumer prices, highlighting a modest day for Asia-Pacific economic activity. In July, overall inflation was down 0.5 percent on month and up 0.6 percent on year, while core CPI rose an annual 0.5 percent,

RTTNews | 2h 45min ago

EURUSD	1.1805	GBPUSD	1.35166	AUDUSD	0.65937
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