South Korea Shares May Take Further Damage On Thursday

RTTNews | 582 hari yang lalu
South Korea Shares May Take Further Damage On Thursday

(RTTNews) - The South Korea stock market headed south again on Wednesday, one day after snapping the three-day slide in which it plunged almost 110 points or 4.3 percent. The KOSPI now sits just above the 2,360-point plateau and the losses may accelerate on Thursday.

The global forecast for the Asian markets is mixed to lower, with tech shares likely to weigh after disappointing earnings. The European markets were up and the U.S. bourses were down and the Asian markets figure to follow the latter lead.

The KOSPI finished modestly lower on Wednesday following losses from the industrials and mixed performances from the financials, chemicals and technology shares.

For the day, the index dropped 20.34 points or 0.85 percent to finish at 2,363.17 after trading between 2,362.69 and 2,389.90. Volume was 435 million shares worth 7.7 trillion won. There were 613 gainers and 267 decliners.

Among the actives, Shinhan Financial climbed 1.00 percent, while KB Financial tanked 2.16 percent, Hana Financial collected 0.71 percent, Samsung Electronics sank 0.73 percent, Samsung SDI plummeted 7.19 percent, LG Electronics rallied 3.24 percent, SK Hynix added 0.55 percent, Naver climbed 1.12 percent, LG Chem tumbled 6.91 percent, Lotte Chemical skyrocketed 7.16 percent, S-Oil rose 0.14 percent, SK Innovation stumbled 5.67 percent, POSCO plunged 6.01 percent, SK Telecom eased 0.10 percent, KEPCO improved 1.29 percent, Hyundai Mobis jumped 1.61 percent, Hyundai Motor shed 0.44 percent and Kia Motors dipped 0.12 percent.

The lead from Wall Street is broadly negative as the major averages opened mixed on Wednesday but quickly headed south and finished near session lows.

The Dow dropped 105.45 points or 0.32 percent to finish at 33,035.93, while the NASDAQ plunged 318,65 points or 2.43 percent to close at 12,821,22 and the S&P 500 sank 60.91 points or 1.43 percent to end at 4,186.77.

The particularly steep drop by the NASDAQ reflected a negative reaction to quarterly results from Alphabet (GOOGL), with the Google parent plunging 9.5 percent after the company reported Q3 earnings that beat estimates but had weaker than expected revenue from its cloud business.

A renewed increase by treasury yields also weighed on the markets, with the yield on the benchmark 10-year note spiking after ending the previous session little changed.

The surge by yields came as traders looked ahead to key economic data in the coming days, including a preliminary reading on third quarter GDP on Thursday and personal income on Friday.

Oil futures settled higher on Wednesday, snapping a three-day losing streak amid likely disruptions in supply due to the tensions in the Middle East. West Texas Intermediate Crude oil futures for November ended higher by $1.65 or 1.97 percent at $85.39 a barrel.

Closer to home, South Korea will on Thursday release preliminary Q3 numbers for gross domestic product later this morning. GDP is expected to rise 0.5 percent on quarter and 1.1 percent on year after adding 0.6 percent on quarter and 0.9 percent on year in the three months prior.

read more
Additional Support Expected For Hong Kong Stock Market

Additional Support Expected For Hong Kong Stock Market

The Hong Kong stock market has alternated between positive and negative finishes through the last six trading days since the end of the two-day winning streak in which it had rallied almost 500 points or 2.2 percent. The Hang Seng Index now sits just beneath the 23,575-point plateau and it's tipped to open higher again on Friday.
RTTNews | 14 minit yang lalu
Australian Market Modestly Lower

Australian Market Modestly Lower

The Australian stock market is trading modestly loser on Friday, reversing the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,400 level, with weakness in iron ore miners and technology stocks partially offset by a mixed performance in energy and financial stocks.
RTTNews | 16 minit yang lalu
China Bourse May Extend Thursday's Gains

China Bourse May Extend Thursday's Gains

The China stock market on Thursday snapped the five-day losing streak in which it had surrendered almost 50 points or 1.5 percent. The Shanghai Composite Index now sits just beneath the 3,365-point plateau and it may see additional support on Friday.
RTTNews | 44 minit yang lalu
Japan Retail Sales Climb 3.3% On Year In April

Japan Retail Sales Climb 3.3% On Year In April

The value of retail sales in Japan was up 3.3 percent on year in April, the Ministry of Economy, Trade and Industry said on Friday - coming in at 12.925 trillion yen.
RTTNews | 1j 0min yang lalu
Win Streak May Continue For Singapore Stock Market

Win Streak May Continue For Singapore Stock Market

The Singapore stock market has moved higher in three straight sessions, advancing more than 40 points or 1 percent along the way. The Straits Times Index now sits just above the 3,915-point plateau and it may add to its winnings again on Friday.
RTTNews | 1j 14min yang lalu
Japan Jobless Rate Holds Steady At 2.5%

Japan Jobless Rate Holds Steady At 2.5%

The unemployment rate in Japan came in at a seasonally adjusted 2.5 percent in April, the Ministry of Internal Affairs and Communications said on Friday.
RTTNews | 1j 33min yang lalu