KOSPI: Support Predicted At 2.500 Points

RTTNews | 647 days ago
KOSPI: Support Predicted At 2.500 Points

(RTTNews) - The South Korea stock market has moved lower in six straight sessions, slumping almost 100 points or 4 percent along the way. The KOSPI now rests just above the 2,500-point plateau although it's due for support on Monday.

The global forecast for the Asian markets suggests little movement, although bargain hunting would likely limit any downside. The European markets were down and the U.S. bourses were mixed and flat and the Asian markets are expected to follow the latter lead.

The KOSPI finished modestly lower again on Friday following losses from the technology and chemical companies, while the financials and industrials were mixed.

For the day, the index lost 15.35 points or 0.61 percent to finish at 2,504.50. Volume was 549.45 million shares worth 10.49 trillion won. There were 520 decliners and 358 gainers.

Among the actives, Shinhan Financial perked 0.14 percent, while KB Financial collected 0.39 percent, Hana Financial skidded 1.18 percent, Samsung Electronics shed 0.60 percent, Samsung SDI tumbled 1.81 percent, LG Electronics retreated 1.60 percent, SK Hynix spiked 2.09 percent, Naver plunged 2.52 percent, LG Chem tanked 2.07 percent, Lotte Chemical stumbled 2.18 percent, S-Oil added 0.55 percent, SK Innovation plummeted 3.01 percent, POSCO sank 0.72 percent, SK Telecom eased 0.11 percent, KEPCO slumped1.21 percent, Hyundai Mobis fell 0.43 percent, Hyundai Motor accelerated 0.70 percent and Kia Motors was unchanged.

The lead from Wall Street offers little guidance as the major averages opened lower on Friday but recovered to finish mixed and little changed.

The Dow rose 25.96 points or 0.08 percent to finish at 34,500.66, while the NASDAQ shed 26.12 points or 0.20 percent to close at 13,290.78 and the S&P 500 eased 0.65 points or 0.01 percent to end at 4,369.71.

For the week, the Dow shed 2.2 percent, the S&P lost 2.1 percent and the NASDAQ sank 2.6 percent.

The lack of direction on Wall Street came as traders remained cautious amid concerns the Federal Reserve will hold interest rates higher for longer to control inflation.

The market had maintained a negative bias thanks to hawkish minutes from the Federal Reserve's most recent policy meeting and higher bond yields, but bargain hunting pared the losses.

Oil prices climbed higher Friday, extending gains from the previous session after data indicated a drop in output, while a weaker dollar contributed as well to the uptick in oil prices. West Texas Intermediate Crude oil futures added $0.86 or 1.1 percent to $81.25 a barrel. WTI Crude futures shed 2 percent for the week.

read more
Japan Stock Market May Extend Wednesday's Losses

Japan Stock Market May Extend Wednesday's Losses

The Japan stock market on Wednesday snapped the three-day winning streak in which it had collected almost 750 points or 2 percent. The Nikkei 225 now sits just above the 27,720-point plateau and it may take further damage on Thursday.
RTTNews | 13 minutes ago
KOSPI Likely To Remain Rangebound

KOSPI Likely To Remain Rangebound

The South Korea stock market has moved higher in two of three trading days since the end of the two-day slide in which it had given up almost 35 points or 1.4 percent. The KOSPI now rests just above the 2,670-point plateau and it may hand back some of those gains on Thursday.
RTTNews | 28 minutes ago
Korea Rate Decision Due On Thursday

Korea Rate Decision Due On Thursday

The Bank of Korea will wrap up its monetary policy meeting and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The BoK is widely expected to keep its benchmark lending rate unchanged at 2.75 percent.
RTTNews | 1h 28min ago
Swiss Market Ends Notably Lower

Swiss Market Ends Notably Lower

Swiss stocks turned in a weak performance on Wednesday, losing ground gradually after opening marginally down, as uncertainty about U.S. government's trade policies rendered the mood cautious.
RTTNews | 6h 10min ago
European Stocks Fail To Hold Early Gains, Close Broadly Lower

European Stocks Fail To Hold Early Gains, Close Broadly Lower

Despite opening on a positive note, European stocks closed broadly lower on Wednesday as investors largely made cautious moves, awaiting more clarity on U.S. President Donald Trump's tariff moves and other policy decisions.
RTTNews | 6h 39min ago
Canadian Market Slightly Lower; BoM, National Bank Rise On Results

Canadian Market Slightly Lower; BoM, National Bank Rise On Results

The Canadian market is slightly down on Wednesday with stocks moving in a tight range as investors digest earnings updates from Bank of Montreal and National Bank of Canada, and await further developments on trade negotiations between the U.S. and its major trading partners.
RTTNews | 7h 17min ago
Kingfisher Q1 Sales Rise, Says Confident Of FY25 View; But Stock Down

Kingfisher Q1 Sales Rise, Says Confident Of FY25 View; But Stock Down

Home improvement retailer Kingfisher Plc reported Wednesday higher sales in its first quarter, benefited by improved results in UK & Ireland. Meanwhile, sales in France and Poland declined, and the company maintained its fiscal 2025 outlook. On the London Stock Exchange, Kingfisher shares were losing around 3.5 percent.
RTTNews | 10h 45min ago