South Korea Bourse May Give Up Support At 2,400 Points

RTTNews | vor 794 Tagen
South Korea Bourse May Give Up Support At 2,400 Points

(RTTNews) - The South Korea stock market has tracked lower in two straight sessions, slipping more than 30 points or 1.2 percent along the way. The KOSPI now rests just beneath the 2,410-point plateau and it's expected to extend its losses again on Tuesday.

The global forecast for the Asian markets is negative on trade concerns emanating from protests in China. The European and U.S. markets were solidly in the red and the Asian bourses are expected to open in similar fashion.

The KOSPI finished sharply lower on Monday following losses from the financial shares, oil companies and chemicals, while the technology and automobile stocks were mixed.

For the day, the index dropped 29.59 points or 1.21 percent to finish at 2,408.27 after trading between 2,401.95 and 2,425.65. Volume was 343.2 million shares worth 6.36 trillion won. There were 703 decliners and 166 gainers.

Among the actives, Shinhan Financial shed 0.68 percent, while KB Financial tumbled 2.18 percent, Hana Financial plunged 3.35 percent, Samsung Electronics slumped 1.48 percent, Samsung SDI rose 0.28 percent, LG Electronics surged 3.90 percent, SK Hynix tanked 2.35 percent, Naver surrendered 2.43 percent, LG Chem eased 0.28 percent, Lotte Chemical and SK Innovation both dropped 0.57 percent, S-Oil plummeted 3.88 percent, POSCO lost 0.51 percent, SK Telecom dipped 0.20 percent, KEPCO sank 0.74 percent, Hyundai Mobis fell 0.48 percent, Hyundai Motor advanced 0.90 percent and Kia Motors was unchanged.

The lead from Wall Street is bleak as the major averages opened lower on Monday and the losses accelerated as the day progressed, closing near session lows.

The Dow plunged 497.57 points or 1.45 percent to finish at 33,849.46, while the NASDAQ tumbled 176.86 points or 1.58 percent to close at 11,049.50 and the S&P 500 slumped 62.18 points or 1.54 percent to end at 3,963.94.

Concerns about developments in China fueled the substantial pullback on Wall Street, as widespread protests against the Beijing's zero-Covid restriction policy broke out over the weekend.

The weakness on Wall Street may also have reflected lingering uncertainty about the outlook for interest rates ahead of next month's Federal Reserve meeting.

While the Fed is widely expected to slow the pace of interest rate hikes next month, the minutes of the central bank's early November meeting suggested some officials think rates will be to be raised higher than previously anticipated.

Crude oil prices shook off early weakness and moved higher on Monday amid speculation that OPEC will seriously consider a new production cut at its meeting later this week. West Texas Intermediate Crude oil futures for January gained $0.96 or 1.3 percent at $77.24 a barrel.

read more
Bay Street Likely To Open On Mixed Note

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note on Friday with investors reacting to the nation's GDP data, and treading cautiously ahead of the February 1 deadline for the imposition of trade duties on Canada.
RTTNews | vor 5Std 56 Minuten
Wall Street Looks Headed For Positive Start

Wall Street Looks Headed For Positive Start

Higher futures point to a firm start for U.S. stocks Friday morning, but data on the nation's personal consumption expenditure for the month of December holds the key for the market's trend.
RTTNews | vor 6Std 28 Minuten
Novartis Q4 Core EPS Beats Market, Hikes Dividend; Sees Growth In FY25; Stock Up

Novartis Q4 Core EPS Beats Market, Hikes Dividend; Sees Growth In FY25; Stock Up

Swiss drug-major Novartis AG reported Friday weak net earnings in its fourth quarter on the absence of prior year's significant gain related to Sandoz Group AG spin-off. However, earnings from continuing operations grew from last year, and core earnings beat market estimates along with top line. Further, the company issued positive outlook for fiscal 2025 and lifted its dividend.
RTTNews | vor 6Std 46 Minuten
France Inflation Rises To 5-Month High

France Inflation Rises To 5-Month High

French inflation accelerated to a five-month high in January largely on energy and manufactured product prices, provisional data from the statistical office INSEE showed Friday. Consumer prices registered an annual increase of 1.4 percent in January, following December's 1.3 percent rise.
RTTNews | vor 7Std 47 Minuten
FTSE 100 Hits Fresh Record High

FTSE 100 Hits Fresh Record High

U.K. stocks are up in positive territory Friday morning, and the benchmark FTSE 100 looks set to end the month with a strong gain, as the mood remains a bit bullish amid optimism about more monetary easing by central banks in the coming months.
RTTNews | vor 8Std 55 Minuten
German Unemployment Rises Marginally

German Unemployment Rises Marginally

Germany's unemployment rose slightly and job vacancies decreased in January as the manufacturing sector faces severe downturn, official data revealed on Friday. The number of people out of work increased by 11,000 in January after rising 10,000 in December, the Federal Employment Agency said. Unemployment was expected to increase more sharply by 14,000.
RTTNews | vor 9Std 22 Minuten