(RTTNews) – The South Korea stock market on Thursday ended the two-day winning streak in which it had rallied almost 95 points or 3 percent. The KOSPI now sits just beneath the 3,080-point plateau although it’s likely to bounce higher again on Friday.
The global forecast for the Asian markets is upbeat on an improved outlook for interest rates. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.
The KOSPI finished modestly lower on Thursday following losses from the technology stocks and properties, while the financial sector was mixed.
For the day, the index sank 28.69 points or 0.92 percent to finish at 3,079.56 after trading between 3,036.55 and 3,113.03. Volume was 451.12 million shares worth 16.62 trillion won. There were 724 decliners and 180 gainers.
Among the actives, Shinhan Financial retreated 1.49 percent, while KB Financial collected 0.37 percent, Hana Financial rose 0.36 percent, Samsung Electronics tumbled 1.79 percent, Samsung SDI shed 0.46 percent, LG Electronics slumped 1.84 percent, SK Hynix rallied 2.45 percent, Naver cratered 7.94 percent, LG Chem jumped 1.65 percent, Lotte Chemical lost 0.48 percent, SK Innovation slipped 0.69 percent, POSCO Holdings sank 0.74 percent, SK Telecom declined 0.70 percent, KEPCO skyrocketed 7.27 percent, Hyundai Mobis skidded 1.01 percent, Hyundai Motor tanked 3.46 percent and Kia Motors stumbled 1.98 percent.
The lead from Wall Street is positive as the major averages opened with mild gains on Thursday but continued to pick up steam throughout the day, ending at session highs and just shy of all-time highs.
The Dow jumped 404.41 points or 0.94 percent to finish at 43,386.84, while the NASDAQ rallied 194.36 points or 0.97 percent to close at 20,167.91 and the S&P 500 gained 48.86 points or 0.80 percent to end at 6,141.02.
The markets continued to benefit from recent upward momentum, which has helped propel the major averages well off their April lows despite lingering uncertainty about tariffs.
The strength on Wall Street also came following the release of a slew of U.S. economic data, including a Labor Department report showing an unexpected decrease by initial jobless claims last week.
Also, revised data released by the Commerce Department showed the U.S. economy shrank by more than previously estimated in the first quarter of 2025, sparking optimism for future rate cuts sooner rather than later.
Crude oil extended its recovery on Thursday amid the ongoing Israel-Iran ceasefire and reports of an increase in fuel demand in the U.S. West Texas Intermediate crude for August delivery closed up by $0.32 to settle at $65.24 per barrel.
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