Rebound Predicted For South Korea Stock Market

RTTNews | 578 ngày trước
Rebound Predicted For South Korea Stock Market

(RTTNews) - The South Korea stock market on Tuesday ended the modest two-day winning streak in which it had risen almost a dozen points or 0.6 percent. The KOSPI now sits just above the 2,275-point plateau although it's expected to find renewed support on Wednesday.

The global forecast for the Asian markets is cautiously optimistic ahead of the Federal Reserve's monetary policy announcement later today. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The KOSPI finished sharply lower on Tuesday following losses from the technology stocks, oil companies and industrials, while the financials were mixed.

For the day, the index stumbled 32.56 points or 1.41 percent to finish at 2,277.99 after trading between 2,273.97 and 2,322.45. Volume was 387.6 million shares worth 8 trillion won. There were 639 decliners and 252 gainers.

Among the actives, Shinhan Financial jumped 1.91 percent, while KB Financial collected 0.78 percent, Hana Financial skidded 1.13 percent, Samsung Electronics shed 0.59 percent, Samsung SDI plummeted 5.86 percent, LG Electronics tumbled 3.30 percent, SK Hynix surrendered 2.35 percent, Naver improved 0.70 percent, LG Chem slumped 1.12 percent, Lotte Chemical rose 0.21 percent, S-Oil stumbled 4.73 percent, SK Innovation tanked 2.94 percent, POSCO plunged 4.97 percent, SK Telecom lost 0.61 percent, Hyundai Mobis weakened 1.42 percent, Hyundai Motor retreated 1.62 percent, Kia Motors declined 1.54 percent and KEPCO was unchanged.

The lead from Wall Street is positive as the major averages shook off early weakness on Tuesday, moving into positive territory by midday and ending firmly in the green.

The Dow advanced 123.91 points or 0.38 percent to finish at 33,052.87, while the NASDAQ added 61.76 points or 0.48 percent to close at 12,851.24 and the S&P 500 gained 26.98 points or 0.65 percent to end at 4,193.80.

The early weakness on Wall Street reflected a negative reaction to a Labor Department report showing that employment costs jumped slightly more than expected in the third quarter.

Selling pressure waned shortly after the start of trading, however, as traders seemed reluctant to make significant moves ahead of the Federal Reserve's monetary policy announcement later today.

The subsequent rebound by stocks came as traders resumed Monday's bargain hunting, as stocks remain at relatively reduced levels despite the rally seen in the previous session.

Oil prices dropped on Tuesday, and posted a monthly loss as well, as concerns about the outlook for energy demand and a stronger dollar weighed on the commodity. West Texas Intermediate crude oil futures for December fell $1.29 or 1.6 percent at 81.02 a barrel, the lowest settlement in two months. WTI crude futures shed nearly 11 percent in October.

Closer to home, South Korea will provide October figures for imports, exports and trade balance later today. Imports are expected to sink 4.3 percent on year after tumbling 16.5 percent in September. Exports are called higher by an annual 5.5 percent after slipping 4.4 percent in the previous month. The trade deficit is pegged at $2.0 billion following the $3.70 surplus a month earlier.

read more
TSX Settles Lower As Trade Tensions Resurface

TSX Settles Lower As Trade Tensions Resurface

Despite hitting record highs earlier in the week, the Canadian market ended weak for a second straight day as trade tensions weighed on sentiment, prompting investors to tread cautiously on Friday.
RTTNews | 20h 7phút trước
Crude Oil Prices Slip On Friday

Crude Oil Prices Slip On Friday

Crude suffered a weekly loss of more than 1 percent due to uncertainty over U.S. President Donald Trump's tariffs and their likely impact on global growth and fuel demand.
RTTNews | 1 ngày trước
Pound Drops As Trade Tensions Renew

Pound Drops As Trade Tensions Renew

The pound fell against its major counterparts in the New York session on Friday, as trade tensions escalated after the U.S. President accused China of violating trade agreement reached earlier this month.
RTTNews | 1 ngày trước
Swiss Market Ends Modestly Higher

Swiss Market Ends Modestly Higher

Save for a few minutes at the start when it stayed a bit weak, the Switzerland market remained positive on Friday, and despite coming off the day's high hit around noon, ended the session modestly higher.
RTTNews | 1 ngày trước
Major European Markets Close Slightly Higher

Major European Markets Close Slightly Higher

Despite uncertainty surrounding Trump administration's tariff plans, The major European markets mostly closed higher on Friday. Trade tensions escalated after the U.S. President accused China of violating trade agreement reached earlier this month, but investors picked up stocks amid expectations of an interest rate cut by the European Central Bank.
RTTNews | 1 ngày trước
U.S. Stocks Broadly Lower In Cautious Trade

U.S. Stocks Broadly Lower In Cautious Trade

U.S. stocks are turning in a weak performance on Friday amid renewed concerns over trade tensions, and a batch of mixed economic data. The major averages all are down in negative territory, with the tech-laden Nasdaq underperforming.
RTTNews | 1 ngày trước