South Korea Shares May Bounce Higher Again On Friday

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(RTTNews) - The South Korea stock market on Thursday snapped the three-day winning streak in which it had rallied more than 65 points or 2.7 percent. The KOSPI now sits just above the 2,480-point plateau although it may see renewed strength on Friday.

The global forecast for the Asian markets is upbeat on solid earnings news and support from crude oil. The European and U.S. markets finished higher and the Asian bourses are expected to continue that trend.

The KOSPI finished barely lower on Thursday following losses from the automobile producers, gains from the chemicals and mixed performances from the financial and technology sectors.

For the day, the index dipped 1.66 points or 0.07 percent to finish at 2,480.63 after trading between 2,474.62 and 2,496.97. Volume was 440.4 million shares worth 8.1 trillion won. There were 477 decliners and 392 gainers.

Among the actives, Shinhan Financial fell 0.36 percent, while KB Financial strengthened 1.78 percent, Hana Financial collected 0.82 percent, Samsung Electronics and Lotte Chemical both jumped 1.99 percent, Samsung SDI rallied 1.93 percent, LG Electronics shed 0.43 percent, SK Hynix skidded 1.06 percent, Naver tumbled 1.76 percent, LG Chem climbed 1.03 percent, SK Innovation surged 5.04 percent, POSCO soared 3.05 percent, SK Telecom sank 0.71 percent, KEPCO dipped 0.21 percent, Hyundai Mobis lost 0.39 percent, Hyundai Motor retreated 1.37 percent and Kia Motors slumped 0.51 percent.

The lead from Wall Street is positive as the major averages opened slightly lower on Thursday but gradually moved higher and finished in the green.

The Dow rallied 461.88 points or 1.06 percent to finish at 43,870.35, while the NASDAQ rose 6.28 points or 0.03 percent to close at 18,972.42 and the S&P 500 advanced 31.60 points or 0.53 percent to end at 5,948.71.

The sharp increase by the Dow came amid strong gains by IBM Corp. (IBM), Sherwin-Williams (SHW) and Salesforce (CRM).

The NASDAQ showed a lack of direction as traders tracked the performance of AI darling Nvidia (NVDA), which reported better than expected third quarter earnings and revenues - but some traders expressed concerns about slowing revenue growth.

In U.S. economic news, the Labor Department said initial jobless claims unexpectedly fell to their lowest level in over six months last week. Also, the Conference Board' leading economic index fell more than expected in October

Oil prices climbed higher Thursday as escalating geopolitical tensions due to the ongoing war between Russia and Ukraine outweighed recent data showing robust supply in the market. West Texas Intermediate crude oil futures for December closed up $1.35 or 1.96 percent at $70.10 a barrel.

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market moves on Wednesday, reversing the gains in the previous two sessions, with the benchmark S&P/ASX 200 falling well below the 8,850 level, despite the broadly positive cues from Wall Street overnight, with weakness in energy and financial stocks partially offset by gains in mining and technology stocks.

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Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, boosted by Hong Kong and Japanese markets amid improved outlook for interest rates after US consumer price inflation for July came in line with expectations. The U.S. and China also confirmed a 90-day extension of their trade truce. Asian markets closed mixed on Tuesday.

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Sensex, Nifty Set For Positive Open As Retail Inflation Hits 8-year Low

Indian shares look set to open on a positive note Wednesday after official data showed India's consumer price inflation eased more-than-expected in July to the lowest level in just over eight years amid a continued fall in food prices.

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Rebound Anticipated For Thai Stock Market

Ahead of the long holiday weekend for Queen Sirikit's birthday, the Thai stock market had ended the four-day winning streak in which it had surged almost 50 points or 4.1 percent. The Stock Exchange of Thailand now sits just beneath the 1,260-point plateau although it's expected to bounce higher again on Wednesday.

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Japanese Market Sharply Higher

The Japanese stock market is sharply higher on Wednesday, extending the gains in the previous six sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving a tad above the 43,300 level to fresh record all-time highs, with gains across all sectors led by exporters and financial stocks.

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Indonesia Bourse May Test Resistance At 7,800 Points

The Indonesia stock market has tracked higher in three straight sessions, improving more than 300 points or 4 percent along the way. The Jakarta Composite Index now sits just above the 7,790-point plateau and it may at least open higher again on Wednesday.

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Additional Support Called For Hong Kong Stock Market

The Hong Kong stock market has moved higher in back-to-back sessions, gathering more than 110 points or 0.4 percent along the way. The Hang Seng Index now rests just beneath the 24,970-point plateau and it's expected to open to the upside again on Wednesday.

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Australian Market Modestly Lower

Australian shares are trading modestly lower on Wednesday after opening in the green, reversing the gains in the previous two sessions, with the benchmark S&P/ASX 200 staying well below the 8,900 level, despite the broadly positive cues from Wall Street overnight, with weakness in energy and financial stocks partially offset by gains in mining and technology stocks.

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