June 13, 2024

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Win Streak May Continue For South Korea Shares

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The South Korea stock market has moved higher in three straight sessions, gathering more than 90 points or 3.8 percent along the way. The KOSPI now sits just beneath the 2,370-point plateau and it’s expected to add to its winnings again on Monday.

The global forecast for the Asian markets is upbeat on an improved outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.

The KOSPI finished sharply higher again on Friday following gains from the financial shares, technology stocks and energy companies.

For the day, the index climbed 25.22 points or 1.08 percent to finish at 2,368.34 after trading between 2,351.83 and 2,370.28. Volume was 567 million shares worth 7.86 trillion won. There were 717 gainers and 159 decliners.

Among the actives, Shinhan Financial climbed 1.16 percent, while KB Financial spiked 3.14 percent, Hana Financial accelerated 3.21 percent, Samsung Electronics eased 0.14 percent, Samsung SDI gained 0.67 percent, LG Electronics soared 1.71 percent, SK Hynix added 0.40 percent, Naver surged 5.08 percent, LG Chem rallied 3.40 percent, Lotte Chemical increased 1.01 percent, S-Oil improved 0.74 percent, SK Innovation skyrocketed 7.45 percent, POSCO jumped 2.46 percent, SK Telecom advanced 0.91 percent, KEPCO strengthened 1.67 percent, Hyundai Mobis fell 0.23 percent, Hyundai Motor gained 0.81 percent and Kia Motors slumped 1.15 percent.

The lead from Wall Street is broadly positive as the major averages opened higher on Friday and remained in the green throughout the session.

The Dow surged 222.22 points or 0.66 percent to finish at 34,061.32, while the NASDAQ jumped 184.08 points or 1.38 percent to end at 13,478.28 and the S&P 600 gained 40.56 points or 0.95 percent to close at 4,358.34.

For the week, the NASDAQ skyrocketed 6.6 percent, the S&P 500 soared 5.9 percent and the Dow spiked 5.1 percent.

The continued strength on Wall Street reflected a positive reaction to a…

2023-11-05 18:00:07

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