South Korea Bourse Tipped To Extend Losing Streak

RTTNews | 950 dias atrás
South Korea Bourse Tipped To Extend Losing Streak

(RTTNews) - The South Korea stock market has finished lower in back-to-back sessions, slipping more than 30 points or 1.3 percent along the way. The KOSPI now rests just beneath the 2,220-point plateau and it may open under pressure again on Friday.

The global forecast for the Asian markets suggests consolidation on rising treasury yields and concerns over the outlook for interest rates. 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 Thursday following losses from the shares and chemical companies, while the technology, oil and automobile stocks were mixed.

For the day, the index dropped 19.35 points or 0.86 percent to finish at 2,218.09 after trading between 2,200.44 and 2,231.52. Volume was 1.1 billion shares worth 8.1 trillion won. There were 607 decliners and 273 gainers.

Among the actives, Shinhan Financial retreated 1.35 percent, KB Financial tumbled 2.92 percent, Hana Financial dropped 0.89 percent, Samsung Electronics shed 0.54 percent, LG Electronics gained 0.74 percent, SK Hynix tanked 2.91 percent, LG Chem surrendered 4.05 percent, Lotte Chemical plummeted 5.31 percent, S-Oil soared 2.47 percent, SK Innovation plunged 5.20 percent, POSCO skidded 1.18 percent, SK Telecom advanced 0.92 percent, KEPCO declined 1.76 percent, Hyundai Mobis shed 0.72 percent, Hyundai Motor rose 0.30 percent, Kia Motors sank 0.87 percent and Naver was unchanged.

The lead from Wall Street is negative as the major averages were unable to hold early gains, heading south by midday and finishing at daily lows.

The Dow slumped 90.22 points or 0.30 percent to finish at 30,333.59, while the NASDAQ shed 65.66 points or 0.61 percent to end at 10,614.84 and the S&P 500 lost 29.38 points or 0.80 percent to close at 3,665.78.

Stocks initially benefited from another batch of upbeat earnings news from big-name companies like IBM Corp. (IBM) and AT&T (T).

Buying interest waned over the course of the morning, however, with a continued surge in treasury yields contributing to the subsequent pullback by the markets. The yield on the benchmark ten-year note extended recent gains, reaching its highest levels in over fourteen years.

Concerns about the outlook for interest rates continue to drive yields higher, with Philadelphia Federal Reserve President Patrick Harker saying that he expects the Fed to continue raising rates "for a while."

The Fed is widely expected to raise interest rates by another 75 basis points in early November, bringing the target range for the federal funds rate to 3.75 to 4.0 percent.

Crude oil futures for November delivery settled higher on their expiration day as traders weighed energy demand and supply positions. West Texas Intermediate Crude oil futures for November rose $0.43 or 0.5 percent at $85.98 a barrel on the expiration day. But WTI Crude oil futures for December eased to $84.51 a barrel.

read more
U.S. Dollar Strengthens On Trump's Tariff Delay

U.S. Dollar Strengthens On Trump's Tariff Delay

The U.S. dollar was higher against its major counterparts in the New York session on Tuesday amid easing trade tensions between the U.S. and the European Union.
RTTNews | 38 minutos atrás
European Stocks Close Broadly Higher On Strong Data, Easing Trade Tensions

European Stocks Close Broadly Higher On Strong Data, Easing Trade Tensions

European stocks closed on a positive note on Tuesday, continuing to benefit from U.S. President Donald Trump's decision to amid slightly easing concerns about a potential trade war following U.S. President Donald Trump's decision decision to wait till July 9th to implement the 50% tariffs he had threatened to impose on imports from the European Union.
RTTNews | 2 h 6 min atrás
U.S. Consumer Confidence Rebounds Much More Than Expected In May

U.S. Consumer Confidence Rebounds Much More Than Expected In May

A report released by the Conference Board on Tuesday showed a substantial improvement by U.S. consumer confidence in the month of May. The Conference Board said its consumer confidence index spiked to 98.0 in May after plunging to a downwardly revised 85.7 in April.
RTTNews | 4 h 47 min atrás
U.S. Durable Goods Orders Plunge 6.3% In April As Aircraft Orders Plummet

U.S. Durable Goods Orders Plunge 6.3% In April As Aircraft Orders Plummet

With orders for transportation equipment pulling back sharply, the Commerce Department released a report on Tuesday showing a steep drop by new orders for U.S. manufactured durable goods in the month of April. The Commerce Department said durable goods orders tumbled by 6.3 percent in April after surging by a downwardly revised 7.6 percent in March.
RTTNews | 4 h 58 min atrás
Bay Street Seen Opening Higher Again

Bay Street Seen Opening Higher Again

Canadian shares are likely to extend recent gains on Tuesday following U.S. President Donald Trump's decision to wait till July 9th to implement the 50% tariffs he had threatened to impose on imports from the European Union.
RTTNews | 6 h 25 min atrás
U.S. Durable Goods Orders Pull Back Sharply In April

U.S. Durable Goods Orders Pull Back Sharply In April

With orders for transportation equipment pulling back sharply, the Commerce Department released a report on Tuesday showing a steep drop by new orders for U.S. manufactured durable goods in the month of April.
RTTNews | 6 h 25 min atrás
Eurozone Economic Sentiment Rises More Than Forecast

Eurozone Economic Sentiment Rises More Than Forecast

Eurozone economic confidence strengthened more than expected in May as manufacturers, consumers and retailers showed signs of recovery, survey data from the European Commission revealed on Tuesday. The Economic Sentiment Indicator climbed to 94.8 from 93.8 in April. The reading was above forecast of 94.0. The rise in the ESI was primarily driven by the improvements in the industry, retail trad
RTTNews | 6 h 43 min atrás