KOSPI Poised To Extend Winning Streak

RTTNews | Před 566 dny
KOSPI Poised To Extend Winning Streak

(RTTNews) - The South Korea stock market has moved higher in three straight sessions, gathering more than 40 points or 1.7 percent along the way. The KOSPI now sits just above the 2,510-point plateau and it may add to its winnings again on Thursday.

The global forecast for the Asian markets is upbeat on continued 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 slightly higher on Wednesday following mixed performances from the financial shares, technology stocks and chemical companies.

For the day, the index perked 1.28 points or 0.05 percent to finish at 2,511.70. Volume was 433.37 million shares worth 7.66 trillion won. There were 428 gainers and 421 decliners.

Among the actives, Shinhan Financial fell 0.27 percent, while KB Financial collected 0.74 percent, Hana Financial slid 0.24 percent, Samsung SDI strengthened 1.18 percent, LG Electronics sank 0.74 percent, SK Hynix declined 0.53 percent, Naver jumped 1.47 percent, LG Chem added 0.60 percent, Lotte Chemical lost 0.45 percent, SK Innovation perked 0.07 percent, POSCO shed 0.42 percent, SK Telecom eased 0.19 percent, KEPCO climbed 1.06 percent, Hyundai Mobis dropped 0.86 percent, Hyundai Motor slumped 0.65 percent, Kia Motors stumbled 0.60 percent and S-Oil and Samsung Electronics were unchanged.

The lead from Wall Street is positive as the major averages opened higher on Wednesday and remained in the green throughout the session.

The Dow jumped 184.74 points or 0.53 percent to finish at 35,273.03, while the NASDAQ gained 65.88 points or 0.46 percent to end at 14,265.86 and the S&P 500 rose 18.43 points or 0.41 percent to close at 4,556.62.

The strength on Wall Street came as continued optimism about the outlook for interest rates contributed to renewed buying interest following the previous day's pullback.

While the minutes of the latest Federal Reserve meeting failed to provide any indications the central bank plans to cut interest rates in the near future, CME Group's FedWatch Tool suggests the next move will be a rate cut in mid-2024.

In economic news, the Labor Department said first-time claims for unemployment benefits fell more than expected last week. Also, the Commerce Department said new orders for U.S. manufactured durable goods pulled back by much more than expected in October.

Crude oil futures settled lower Wednesday after data showed a notable increase in crude inventory in the U.S., and after OPEC postponed a key meeting by four days. West Texas Intermediate Crude oil futures for January ended down $0.67 or 0.86 percent at $77.10 a barrel.

read more
Euro Rises Against Majors

Euro Rises Against Majors

The euro strengthened against other major currencies in the European session on Wednesday.
RTTNews | Před 11 minutami
Sensex, Nifty End Modestly Higher; IT Stocks Lead Gains

Sensex, Nifty End Modestly Higher; IT Stocks Lead Gains

Indian shares eked out modest gains on Wednesday as markets assessed the outcome of high-level U.S.-China talks and awaited key U.S. inflation readings for additional clues on the Federal Reserve's rate trajectory.
RTTNews | Před 12 minutami
Tesla Shares Gain As Musk Sets Robotaxi Service Launch Tentatively On June 22

Tesla Shares Gain As Musk Sets Robotaxi Service Launch Tentatively On June 22

Tesla Inc. shares were gaining around 2.4 percent in the pre-market activity on the Nasdaq following a 6 percent jump on Tuesday's regular trading, after the founder and CEO Elon Musk confirmed that the much awaited robotaxi service is tentatively set to launch in Austin, Texas, on June 22. In a post on his social media platform X, Musk said, "Tentatively, June 22. We are being super paranoid...
RTTNews | Před 15 minutami
DAX Up Marginally In Cautious Trade As Traders Await U.S. Inflation Data

DAX Up Marginally In Cautious Trade As Traders Await U.S. Inflation Data

German stocks advanced Wednesday morning, reacting positively to the news about top U.S. and Chinese officials reaching a framework to implement the Geneva consensus. If approved, the Sino-U.S. deal will remove some restrictions on China's rare earth exports and unwind a few recent U.S. export bans.
RTTNews | Před 23 minutami
Asian Shares Climb On Trade Talk Optimism

Asian Shares Climb On Trade Talk Optimism

Asian stocks advanced on Wednesday after top U.S. and Chinese officials said they have reached a framework to implement the Geneva consensus, following two days of discussions in London.
RTTNews | Před 2 h 3 min
Commodity Currencies Slide Amid Crude Oil Price Drop

Commodity Currencies Slide Amid Crude Oil Price Drop

The commodity currencies such as the Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Wednesday amid crude oil price drop, as markets awaited the outcome of US-China trade talks, which have yet to be approved by President Donald Trump, with China's poor oil demand and OPEC+ output increases weighing on the market.
RTTNews | Před 2 h 30 min