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Tech stocks could boost South Korean stock market

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(RTTNews) – The South Korean stock market ended a two-day losing streak on Wednesday in which it lost more than 40 points, or 1.3%. KOSPI is now just below the 2,945 point plateau and could rise again on Thursday.

Global forecasts for Asian markets are cautiously optimistic about allaying concerns about the outlook for interest rates. European markets were up and US stock markets were mostly higher and Asian markets are also expected to open in the green.

KOSPI ended slightly higher on Wednesday following gains by automakers and chemical companies, while financials and tech stocks were mixed.

For the day, the index climbed 28.03 points or 0.96% to end at 2,944.41 after trading between 2,909.47 and 2,953.33. The volume was 743 million shares worth 12.1 trillion won. There were 700 winners and 168 decline.

Among assets, Shinhan Financial grew 0.91%, while KB Financial fell 1.65%, Hana Financial fell 0.23%, Samsung Electronics fell 0.29%, LG Electronics fell 1.61%, SK Hynix added 0.55%, Naver gained 2.69%, Samsung SDI climbed 1.21%, LG Chem jumped 1.51%, Lotte Chemical gained 0.63 percent, S-Oil fell 1.78 percent, SK Innovation grew 0.97 percent, POSCO grew 0.93 percent, SK Telecom gained 0.67 percent, KEPCO climbed 2.70 percent, Hyundai Motor accelerated 3.18 percent and Kia Engines climbed 2.43 percent.

Wall Street’s lead is mostly bullish as the NASDAQ opened higher and stayed solidly in the green. The Dow Jones and S&P spent much of the day in negative territory, with the latter managing to climb into positive territory and the former closing just below the line.

The Dow Jones fell 0.53 points to close at 34,377.81, while the NASDAQ jumped 105.71 points or 0.73% to close at 14,571.63 and the S&P 500 rose 13. 15 points or 0.30% to end at 4,363.80.

The higher closing on Wall Street came as a Labor Department report showed consumer prices rose slightly more than expected in September, but the data was not seen as likely to accelerate plans to move forward. reduction of the Federal Reserve.

In addition, the minutes of the September Fed meeting highlighted the central bank’s plans to gradually reduce its asset purchases. Participants generally agreed that a gradual reduction in asset purchases ending around the middle of next year would likely be appropriate if the economic recovery remained broadly on track.

Crude oil prices fell on Wednesday, weighed down by fears that slowing global economic growth could weaken the outlook for energy demand. West Texas Intermediate crude oil futures for November fell $ 0.20 or 0.3% to $ 80.44 a barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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