High Open Predicted For South Korea Stock Market

(RTTNews) - The South Korea stock market has moved higher in consecutive trading days, gathering almost 30 points or 1.5 percent along the way. The KOSPI now rests just above the 2,175-point plateau and it's looking at another green light for Monday's trade.

The global forecast for the Asian markets is upbeat on an improved outlook for global trade. The European and U.S. markets were up and the Asian markets are tipped to open in similar fashion.

The KOSPI finished modestly higher on Friday as the financials, technology stocks and telecoms were mostly in the green.

For the day, the index jumped 20.43 points or 0.95 percent to finish at 2,176.11 after trading between 2,152.59 and 2,181.77. Volume was 373.55 million shares worth 6.29 trillion won. There were 481 decliners and 352 gainers.

Among the actives, Shinhan Financial collected 0.91 percent, while KB Financial surged 3.05 percent, Hana Financial shed 0.39 percent, POSCO perked 1.95 percent, KEPCO eased 0.14 percent, Samsung Electronics added 0.80 percent, LG Electronics slid 0.39 percent, SK hynix climbed 1.19 percent, Hyundai Motor jumped 1.68 percent, Kia Motors fell 0.74 percent, SK Telecom spiked 2.84 percent and KT advanced 0.90 percent.

The lead from Wall Street is positive as stocks moved gradually higher through the course of Friday's trade, with the NASDAQ and the S&P 500 hitting five-month closing highs.

The Dow added 138.98 points or 0.54 percent to 25,848.87, while the NASDAQ gained 57.62 points or 0.76 percent to 7,688.53 and the S&P 500 rose 14.00 points or 0.50 percent to 2,822.48. For the week, the Dow gained 1.6 percent, the NASDAQ advanced 3.8 percent and the S&P rose 2.9 percent.

The strength on Wall Street came amid optimism on U.S.-China trade talks and indications of Chinese economic stimulus after Chinese Premier Li Keqiang pledged support for the fading economy.

In U.S. economic news, the Federal Reserve said industrial production rose less than expected in February. Also, the New York Fed noted an unexpected slowdown in regional manufacturing growth in March.

Crude oil futures ended slightly lower on Friday, snapping a four-session winning streak, as traders chose to take profits. West Texas Intermediate Crude oil futures for April ended down $0.09 or 0.2 percent at $58.52 a barrel.
See also:
Leave a comment
  • Latest
  • Read
  • Commented
Calendar Content
«    Май 2020    »