(RTTNews) – The South Korea stock market on Friday wrote a finish to the three-day winning streak in which it had jumped more than 140 points or 3.5 percent. The KOSPI now sits just above the 3,925-point plateau, although it’s expected to bounce higher again on Monday.
The global forecast for the Asian markets is upbeat on an improved outlook for interest rates. The European and U.S. markets were up and the Asian bourses are tipped to open in similar fashion.
The KOSPI finished sharply lower on Friday following losses from the chemicals and technology stocks, while the financials were mixed and the automobile companies offered support.
For the day, the index stumbled 60.32 points or 1.51 percent to finish at 3,926.59 after trading between 3,921.89 and 3,995.30. Volume was 237.7 million shares worth 11.7 trillion won. There were 592 gainers and 281 decliners.
Among the actives, Shinhan Financial fell 0.38 percent, while KB Financial collected 0.89 percent, Samsung Electronics stumbled 2.90 percent, Samsung SDI skidded 1.16 percent, LG Electronics rose 0.23 percent, SK Hynix tanked 2.57 percent, Naver surrendered 2.98 percent, LG Chem plummeted 5.44 percent, Lotte Chemical plunged 4.62 percent, SK Innovation slumped 1.20 percent, POSCO Holdings declined 1.12 percent, SK Telecom added 0.19 percent, KEPCO climbed 1.16 percent, Hyundai Mobis jumped 1.64 percent, Kia Motors perked 0.09 percent and Hana Financial and Hyundai Motor were unchanged.
The lead from Wall Street is positive as the major averages opened higher on Friday and remained in the green throughout the day for a fifth straight session.
The Dow jumped 289.30 points or 0.61 percent to finish at 47,716.42, while the NASDAQ rallied 151.00 points or 0.65 percent to end at 23,365.69 and the S&P 500 climbed 36.48 points or 0.54 percent to close at 6,849.09.
For the holiday-shortened week, the NASDAQ spiked 4.9 percent, the S&P 500 jumped 3.7 percent and the Dow climbed 3.2 percent.
Renewed optimism about the outlook for interest rates has contributed to the recent rebound following dovish comments from leading Federal Reserve officials. CME Group’s FedWatch Tool is currently indicating an 86.9 percent chance the central bank will cut rates by another quarter point at its December meeting.
Trading activity remained somewhat subdued, however, as some traders remained away from their desks following the Thanksgiving holiday.
Crude oil prices edged higher on Friday a proposed peace deal to end the Russia-Ukraine war remains in limbo. West Texas Intermediate crude for January delivery was up $0.18 or 0.31 percent at $58.83 per barrel.
Closer to home, South Korea will provide preliminary November numbers for imports, exports and trade balance later this morning. Imports are expected to rise 3.4 percent on year after slipped 1.5 percent in October. Exports care called higher by an annual 5.7 percent, up from 3.5 percent in the previous month. The trade surplus is pegged at $8.40 billion, up from $6.00 billion a month earlier.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
(RTTNews) – The South Korea stock market on Friday wrote a finish to the three-day winning streak in which it had jumped more than 140 points or 3.5 percent. The KOSPI now sits just above the 3,925-point plateau, although it’s expected to bounce higher again on Monday.
The global forecast for the Asian markets is upbeat on an improved outlook for interest rates. The European and U.S. markets were up and the Asian bourses are tipped to open in similar fashion.
The KOSPI finished sharply lower on Friday following losses from the chemicals and technology stocks, while the financials were mixed and the automobile companies offered support.
For the day, the index stumbled 60.32 points or 1.51 percent to finish at 3,926.59 after trading between 3,921.89 and 3,995.30. Volume was 237.7 million shares worth 11.7 trillion won. There were 592 gainers and 281 decliners.
Among the actives, Shinhan Financial fell 0.38 percent, while KB Financial collected 0.89 percent, Samsung Electronics stumbled 2.90 percent, Samsung SDI skidded 1.16 percent, LG Electronics rose 0.23 percent, SK Hynix tanked 2.57 percent, Naver surrendered 2.98 percent, LG Chem plummeted 5.44 percent, Lotte Chemical plunged 4.62 percent, SK Innovation slumped 1.20 percent, POSCO Holdings declined 1.12 percent, SK Telecom added 0.19 percent, KEPCO climbed 1.16 percent, Hyundai Mobis jumped 1.64 percent, Kia Motors perked 0.09 percent and Hana Financial and Hyundai Motor were unchanged.
The lead from Wall Street is positive as the major averages opened higher on Friday and remained in the green throughout the day for a fifth straight session.
The Dow jumped 289.30 points or 0.61 percent to finish at 47,716.42, while the NASDAQ rallied 151.00 points or 0.65 percent to end at 23,365.69 and the S&P 500 climbed 36.48 points or 0.54 percent to close at 6,849.09.
For the holiday-shortened week, the NASDAQ spiked 4.9 percent, the S&P 500 jumped 3.7 percent and the Dow climbed 3.2 percent.
Renewed optimism about the outlook for interest rates has contributed to the recent rebound following dovish comments from leading Federal Reserve officials. CME Group’s FedWatch Tool is currently indicating an 86.9 percent chance the central bank will cut rates by another quarter point at its December meeting.
Trading activity remained somewhat subdued, however, as some traders remained away from their desks following the Thanksgiving holiday.
Crude oil prices edged higher on Friday a proposed peace deal to end the Russia-Ukraine war remains in limbo. West Texas Intermediate crude for January delivery was up $0.18 or 0.31 percent at $58.83 per barrel.
Closer to home, South Korea will provide preliminary November numbers for imports, exports and trade balance later this morning. Imports are expected to rise 3.4 percent on year after slipped 1.5 percent in October. Exports care called higher by an annual 5.7 percent, up from 3.5 percent in the previous month. The trade surplus is pegged at $8.40 billion, up from $6.00 billion a month earlier.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
