KOSPI Poised To Extend Winning Streak

RTTNews | 568天前
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
Australian Market Doubles Early Losses In Mid-market

Australian Market Doubles Early Losses In Mid-market

The Australian stock market is doubling its early loses in mid-market moves on Friday, extending the losses in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,550 level, with weakness is technology stocks partially offset by gains in gold miners and energy stocks.
RTTNews | 1小时22分钟前
Asian Markets A Sea Of Red

Asian Markets A Sea Of Red

Asian stock markets are a sea of red on Friday, despite the broadly positive cues from Wall Street overnight, amid heightening geopolitical tensions in the Middle East region after Israel launched a preemptive strike against Iran in a major escalation of the regional conflict. US officials confirmed that the U.S. had no involvement or role in the operation. Asian markets ended mixed on Thursday.
RTTNews | 1小时41分钟前
Thai Stock Market May Erase Thursday's Losses

Thai Stock Market May Erase Thursday's Losses

The Thai stock market on Thursday ended the two-day winning streak in which it had risen more than 6 points or 0.6 percent. The Stock Exchange of Thailand now rests just beneath the 1,130-point plateau and it's expected to open higher on Friday.
RTTNews | 2小时47分钟前
Indonesia Shares May Move Higher On Friday

Indonesia Shares May Move Higher On Friday

The Indonesia stock market has moved lower in back-to-back sessions, slipping more than 25 points or 0.4 percent in that span. The Jakarta Composite Index now rests just above the 7,200-point plateau although it may find support on Friday.
RTTNews | 3小时17分钟前
Japanese Market Sharply Lower

Japanese Market Sharply Lower

Extending the losses in the previous session, the Japanese market is sharply lower on Friday, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling below the 37,600 level, with weakness across most sectors led by index heavyweights, exporters and technology stocks.
RTTNews | 3小时19分钟前
Little Movement Seen For Hong Kong Stock Market

Little Movement Seen For Hong Kong Stock Market

The Hong Kong stock market has alternated between positive and negative finishes through the last five trading days since the end of the three-day winning streak in which it had rallied almost 750 points or 3.5 percent. The Hang Seng Index now sits just above the 24,030-point plateau and it's likely to remain rangebound on Friday.
RTTNews | 3小时32分钟前