KOSPI May Run Out Of Steam On Monday

2025-02-12 3797
(fxcue news) - The South Korea stock market has moved higher in four straight sessions, collecting almost 70 points or 2.7 percent along the way. The KOSPI now rests just above the 2,590-point plateau although investors may lock in gains on Monday. The global forecast for the Asian markets is flat to lower, with energy stocks likely to lead the way lower. The European and U.S. markets were mostly lower and the Asian bourses figure to follow that lead. The KOSPI finished modestly higher on Friday following gains from the technology stocks, weakness from the chemicals and mixed performances from the financials and industrials. For the day, the index picked up 7.88 points or 0.31 percent to finish at 2,591.05 after trading between 2,582.84 and 2,600.57. Volume was 491.98 million shares worth 13.67 trillion won. There were 496 gainers and 365 decliners. Among the actives, Shinhan Financial dipped 0.21 percent, while KB Financial collected 0.38 percent, Hana Financial added 0.33 percent, Samsung Electronics rose 0.36 percent, Samsung SDI fell 0.23 percent, SK Hynix improved 0.72 percent, Naver added 0.45 percent, LG Chem dropped 0.87 percent, Lotte Chemical lost 0.34 percent, SK Innovation slid 0.26 percent, POSCO Holdings perked 0.20 percent, KEPCO jumped 1.93 percent, Hyundai Mobis rallied 2.67 percent, Hyundai Motor retreated 1.20 percent, Kia Motors accelerated 0.74 percent and LG Electronics and SK Telecom were unchanged. The lead from Wall Street is weak as the major averages opened higher on Friday but couldn't hold the gains, finishing mixed and little changed. The Dow dropped 165.32 points or 0.37 percent to finish at 44,546.08, while the NASDAQ added 81.17 points or 0.41 percent to close at 20,026.77 and the S&P 500 dipped 0.44 points or 0.01 percent to end at 6,114.63. For the week, the NASDAQ surged 2.6 percent, the S&P 500 jumped 1.5 percent and the Dow advanced 0.6 percent. The choppy trading on Wall Street came as traders expressed some uncertainty about the near-term outlook for the markets following Thursday's rally, which saw the S&P 500 jump near its record highs despite data showing a bigger than expected increase by producer prices. Traders were also digesting a mixed batch of U.S. economic data, including a Commerce Department report showing retail sales slumped much more than expected in January. A separate report from the Federal Reserve showed industrial production rose by more than expected last month. Oil prices drifted lower on Friday as supply concerns eased amid hopes of a peace deal between Russia and Ukraine and possibility of removal of sanctions on Russia. West Texas Intermediate Crude oil futures fell $0.55 or 0.77 percent at $70.74 a barrel. WTI futures gained 1.0 percent for the week. Closer to home, South Korea will provide January figures for imports, exports and trade balance later this morning. In December, imports were down 6.4 percent on year and exports slumped 10.3 percent for a trade deficit of $1.89 billion.
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