Little movement expected for the South Korean Stock Exchange
(RTTNews) – The South Korean stock market finished lower on back-to-back trading days, although it did not drop quite 6 points or 0.2% in that time frame. KOSPI now sits just above the 3,165 point plateau and is likely to stay in that neighborhood again on Friday.
Global forecasts for Asian markets are mixed and stable ahead of key US inflation data later today. The European and American markets were mixed and little changed and the Asian markets followed suit.
KOSPI ended slightly lower on Thursday following losses in financial stocks and automakers, while oil and tech stocks were mixed.
For the day, the index plunged 2.92 points or 0.09% to end at 3,165.51 after trading between 3,142.37 and 3,173.86. The volume was 1.1 billion shares valued at 19.9 trillion won. There were 496 winners and 360 decline.
Among assets, Shinhan Financial lost 0.60%, while KB Financial fell 3.15%, Hana Financial fell 1.99%, Samsung Electronics fell 0.25%, LG Electronics slipped 1 , 64%, SK Hynix gained 0.81%, Naver fell 2.34%, LG Chem fell 3.49%. %, Lotte Chemical was down 1.25%, S-Oil was down 2.87%, SK Innovation was up 1.28%, POSCO was up 3.15%, SK Telecom added 0.47%, KEPCO fell 0.76%, Hyundai Motor fell 1.34% and Kia Motors lost 0.62%.
Wall Street’s lead is in conflict as the Dow and the S&P both opened in the green on Friday and ended similarly, while the NASDAQ saw a soft start and ended only slightly lower. .
The Dow Jones climbed 141.59 points or 0.41% to close at 34,464.64, while the NASDAQ released 1.72 points or 0.01% to close at 13,736.28 and the S&P 500 rose by 4.89 points or 0.12% to finish at 4200.88.
The poor performance came as traders continued to expect a much anticipated inflation reading later today. Reading inflation would be preferred by the Federal Reserve and could have a significant impact on the outlook for monetary policy.
Traders were also digesting a report from the Ministry of Labor showing that weekly unemployment claims had again fallen to a new low in the era of the pandemic. The continued decline in jobless claims paints a positive picture of the job market, but has also raised concerns that the Fed is getting closer to reducing its asset purchases in the near future.
In addition, the Commerce Department showed an unexpected decline in durable goods orders in April, and another report noted that the pace of US economic growth in the first quarter was not revised from the anticipated estimate. .
Crude oil prices rose Thursday, extending gains to a fifth straight session after crude inventories fell in the United States. West Texas Intermediate crude oil futures for July ended up $ 0.64 or 1% at $ 66.85 a barrel.
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