South Korea Shares Tipped To Extend Losing Streak

RTTNews | 977天前
South Korea Shares Tipped To Extend Losing Streak

(RTTNews) - The South Korea stock market has finished lower in back-to-back sessions, sinking more than 30 points or 1.3 percent along the way. The KOSPI now rests just shy of the 2,370-point plateau and it may see continued consolidation on Thursday.

The global forecast for the Asian markets is soft on renewed concerns over the outlook for interest rates and recession fears. The European markets were mixed and little changed and the U.S. bourses were sharply lower and the Asian markets are tipped to follow the latter lead.

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

For the day, the index shed 11.07 points or 0.47 percent to finish at 2,368.32 after trading between 2,356.84 and 2,383.00. Volume was 528.3 million shares worth 5.43 trillion won. There were 548 decliners and 296 gainers.

Among the actives, Shinhan Financial retreated 1.39 percent, while KB Financial skidded 1.02 percent, Hana Financial tanked 2.11 percent, Samsung Electronics lost 0.98 percent, Samsung SDI shed 0.49 percent, LG Electronics added 0.53 percent, SK Hynix declined 1.05 percent, Naver climbed 1.03 percent, LG Chem stumbled 0.97 percent, S-Oil sank 0.82 percent, SK Innovation dropped 0.96 percent, POSCO tumbled 1.80 percent, SK Telecom advanced 0.85 percent, KEPCO improved 0.75 percent, Hyundai Mobis plunged 3.02 percent, Hyundai Motor slumped 0.90 percent, Kia Motors fell 0.46 percent and Lotte Chemical was unchanged.

The lead from Wall Street is broadly negative as the major averages were unable to hold early support on Wednesday, quickly heading south and finishing near daily lows.

The Dow plummeted 613,89 points or 1.81 percent to finish at 33,296.96, while the NASDAQ tumbled 138.10 points or 1.24 percent to close at 10,957.01 and the S&P 500 sank 62.11 points or 1.56 percent to end at 3,928.86.

The weakness that emerged on Wall Street came after St. Louis Fed President James Bullard commented that the central bank needs to quickly hike interest rates above 5 percent, shelving much of the recent optimism over interest rates.

Disappointing economic data also weighed as the Commerce Department reported a steep drop in U.S. retail sales in December. A separate report from the Federal Reserve showed industrial production in the U.S. fell by much more than expected in December.

As a result of the data, treasuries showed a substantial move to the upside, further stoking fears for the outlook of interest rates.

Crude oil futures settled lower on Wednesday amid concerns about a possible U.S. recession. West Texas Intermediate Crude oil futures for February ended lower by $0.70 or 0.9 percent at $79.48 a barrel.

read more
European Shares Slide As Auto Stocks Weigh

European Shares Slide As Auto Stocks Weigh

European stocks were broadly lower on Monday as investors awaited a key U.S. inflation reading as well as comments from several Federal Reserve officials this week for additional clues on the Federal Reserve's rate trajectory.
RTTNews | 49分钟前
Asian Shares Mixed As Investors Ponder Fed's Rate Path

Asian Shares Mixed As Investors Ponder Fed's Rate Path

Asian stocks turned in a mixed performance on Monday as investors wondered how U.S. President Donald Trump's crackdown on immigration will reshape the world's largest economy in the short and long term.
RTTNews | 1小时12分钟前
Dollar Edges Up After Fed's Cautious Rate Cut

Dollar Edges Up After Fed's Cautious Rate Cut

The six-currency Dollar Index which measures the U.S. dollar's strength against a basket of 6 currencies edged up during the week ended September 19 amidst a cautious rate cut by the Federal Reserve as well as status quo by Bank of England and Bank of Japan.
RTTNews | 1小时41分钟前
European Shares Seen Mostly Lower In Cautious Trade

European Shares Seen Mostly Lower In Cautious Trade

European stocks are seen opening flat to slightly lower on Monday as investors react to the Trump administration's immigration crackdown on H-1B visas and shift focus to a slew of U.S. economic data as well as speeches by Fed Chair Jerome Powell and other Fed officials due this week for additional clues on the future path of interest rates.
RTTNews | 4小时17分钟前
China Leaves Key Interest Rates Unchanged

China Leaves Key Interest Rates Unchanged

The People's Bank of China left its benchmark interest rates unchanged for the fourth straight month despite key indicators suggesting economic slowdown. The PBoC kept its one-year loan prime rate unchanged at 3.0 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.50 percent. The decision came in line with expectations.
RTTNews | 4小时28分钟前
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian stock market is trimming its early gains in mid-market trading on Monday, but adding to the gains in the previous session, following the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving above the 8,800.00 level, with gains across most sectors led by mining and financial stocks.
RTTNews | 6小时25分钟前
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Monday, following the positive cues from Wall Street on Friday, as the recent interest rate cut decision by the US Fed and the forecast by Fed officials of two more rate cuts this year but just one next year, continue to lift market sentiment. However, major currencies in the region weakened against the US dollar. Asian markets closed mixed on Friday.
RTTNews | 6小时45分钟前