Latest news with #KOSPI
Asahi Shimbun
an hour ago
- Business
- Asahi Shimbun
Asian shares are mixed after U.S. stocks hit an all-time high
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, June 30, 2025. (AP Photo) BANGKOK--Asian shares started the week with gains after U.S. stocks closed at an all-time high following their recovery from the shocks of the Trump administration's trade policies. Canada's decision to cancel a plan to tax U.S. technology firms that had led President Donald Trump to halt trade talks helped to steady the markets. U.S. stock futures advanced after Canadian Prime Minister Mark Carney said the talks had resumed. In Tokyo, the Nikkei 225 climbed 0.6% to 40,395.99. Hong Kong's Hang Seng lost 0.3% to 24,207.36, while the Shanghai Composite index advanced 0.5% to 3,438.46. China reported that its factory activity improved slightly in June after Beijing and Washington agreed in May to postpone imposing higher tariffs on each other's exports, though manufacturing remained in contraction. In South Korea, the Kospi gained 0.5% to 3,070.93. Australia's S&P/ASX 200 jumped 0.6% to 8,560.80. Taiwan's Taiex lost 1.4% and the Sensex in India was down 0.4%. In Bangkok, the SET was up 0.3%. On Friday, the S&P 500 rose 0.5% to 6,173.07, above its previous record set in February. The key measure of Wall Street's health fell nearly 20% from Feb. 19 through April 8. The Nasdaq composite gained 0.5% to 20,273.46, its own all-time high. The Dow Jones Industrial Average rose 1% to 43,819.27. The gains on Friday were broad, with nearly every sector within the S&P 500 rising. Nike soared 15.2% for the biggest gain in the market, despite warning of a steep hit from tariffs. An update on inflation Friday showed prices ticked higher in May, though the rate mostly matched economists' projections. Inflation remains a big concern. Trump's on-again-off-again tariff policy has made it difficult for companies to make financial forecasts and strained household budgets. A long list of businesses from carmakers to retailers have warned that higher import taxes will likely hurt their revenues and profits. The U.S. has 10% baseline tariffs on all imported goods, along with higher rates for Chinese goods and other import taxes on steel and autos and the threat of more severe tariffs continues to hang over the economy. The current pause on a round of retaliatory tariffs against a long list of nations is set to expire on July 9. Failure to negotiate deals or further postpone the tariffs could once again rattle investors and consumers. In an interview with Fox News Channel's 'Sunday Morning Futures,' Trump said his administration will notify countries that the trade penalties will take effect unless there are deals with the United States. Letters will start going out 'pretty soon' before the approaching deadline, he said. The Federal Reserve is monitoring the tariff situation with a big focus on inflation. The rate of inflation has been stubbornly sitting just above the central bank's target of 2%. In a report Friday, its preferred gauge, the personal consumption expenditures index, rose to 2.3% in May. That's up from 2.2% the previous month. The Fed cut interest rates three times in late 2024 following a historic series of rate hikes to cool inflation. The PCE was as high as 7.2% in 2022 while the more commonly used consumer price index hit 9.1%. The Fed hasn't cut rates so far in 2025 over worries that tariffs could reignite inflation and hamper the economy. Economists still expect at least two rate cuts before the end of the year. Bond yields held relatively steady. The yield on the 10-year Treasury rose to 4.28% from 4.27% late Friday. The two-year Treasury yield, which more closely tracks expectations for what the Federal Reserve will do, stood at 3.74%. In other dealings early Monday, U.S. benchmark crude oil lost 8 cents to $65.44 per barrel. Brent crude, the international standard, gained 6 cents to $66.86 per barrel. The U.S. dollar fell to 143.93 Japanese yen from 144.46 yen. The euro rose to $1.1730 from $1.1725.
Japan Today
an hour ago
- Business
- Japan Today
Asian shares mixed after U.S. stocks hit an all-time high
A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, June 30, 2025. (AP Photo/Ahn Young-joon) By ELAINE KURTENBACH Asian shares started the week with gains after U.S. stocks closed at an all-time high following their recovery from the shocks of the Trump administration's trade policies. Canada's decision to cancel a plan to tax U.S. technology firms that had led President Donald Trump to halt trade talks helped to steady the markets. U.S. stock futures advanced after Canadian Prime Minister Mark Carney said the talks had resumed. In Tokyo, the Nikkei 225 climbed 0.6% to 40,395.99. Hong Kong's Hang Seng lost 0.3% to 24,207.36, while the Shanghai Composite index advanced 0.5% to 3,438.46. China reported that its factory activity improved slightly in June after Beijing and Washington agreed in May to postpone imposing higher tariffs on each others' exports, though manufacturing remained in contraction. In South Korea, the Kospi gained 0.5% to 3,070.93. Australia's S&P/ASX 200 jumped 0.6% to 8,560.80. Taiwan's Taiex lost 1.4% and the Sensex in India was down 0.4%. In Bangkok, the SET was up 0.3%. On Friday, the S&P 500 rose 0.5% to 6,173.07, above its previous record set in February. The key measure of Wall Street's health fell nearly 20% from Feb. 19 through April 8. The Nasdaq composite gained 0.5% to 20,273.46, its own all-time high. The Dow Jones Industrial Average rose 1% to 43,819.27. The gains on Friday were broad, with nearly every sector within the S&P 500 rising. Nike soared 15.2% for the biggest gain in the market, despite warning of a steep hit from tariffs. An update on inflation Friday showed prices ticked higher in May, though the rate mostly matched economists' projections. Inflation remains a big concern. Trump's on-again-off-again tariff policy has made it difficult for companies to make financial forecasts and strained household budgets. A long list of businesses from carmakers to retailers have warned that higher import taxes will likely hurt their revenues and profits. The U.S. has 10% baseline tariffs on all imported goods, along with higher rates for Chinese goods and other import taxes on steel and autos and the threat of more severe tariffs continues to hang over the economy. The current pause on a round of retaliatory tariffs against a long list of nations is set to expire on July 9. Failure to negotiate deals or further postpone the tariffs could once again rattle investors and consumers. In an interview with Fox News Channel's 'Sunday Morning Futures,' Trump said his administration will notify countries that the trade penalties will take effect unless there are deals with the United States. Letters will start going out 'pretty soon' before the approaching deadline, he said. The Federal Reserve is monitoring the tariff situation with a big focus on inflation. The rate of inflation has been stubbornly sitting just above the central bank's target of 2%. In a report Friday, its preferred gauge, the personal consumption expenditures index, rose to 2.3% in May. That's up from 2.2% the previous month. The Fed cut interest rates three times in late 2024 following a historic series of rate hikes to cool inflation. The PCE was as high as 7.2% in 2022 while the more commonly used consumer price index hit 9.1%. The Fed hasn't cut rates so far in 2025 over worries that tariffs could reignite inflation and hamper the economy. Economists still expect at least two rate cuts before the end of the year. Bond yields held relatively steady. The yield on the 10-year Treasury rose to 4.28% from 4.27% late Friday. The two-year Treasury yield, which more closely tracks expectations for what the Federal Reserve will do, stood at 3.74%. In other dealings early Monday, U.S. benchmark crude oil lost 8 cents to $65.44 per barrel. Brent crude, the international standard, gained 6 cents to $66.86 per barrel. The U.S. dollar fell to 143.93 Japanese yen from 144.46 yen. The euro rose to $1.1730 from $1.1725. __ AP Business Writers Damian J. Troise and Alex Veiga contributed. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Business Recorder
2 hours ago
- Business
- Business Recorder
South Korean shares set to post best month since November 2020
SEOUL: Round-up of South Korean financial markets: South Korean shares rose on Monday, tracking Wall Street's gains ahead of major economic data releases later this week, and were set to post their best month since late 2020. The benchmark KOSPI index was up 25.39 points, or 0.83%, at 3,081.33 as of 0202 GMT. It has risen 14.1% so far this month on post-election policy optimism and will post the biggest monthly rise since November 2020, if gains hold. Wall Street extended its rally on Friday, sending the S&P 500 and Nasdaq indexes to all-time closing highs, as trade deal hopes fueled risk appetite and economic data helped solidify expectations for rate cuts from the US Federal Reserve. South Korea's factory output fell for a second straight month in May, coming in weaker than market expectations. South Korea is scheduled to report trade data for June on Tuesday. Among index heavyweights, chipmaker Samsung Electronics fell 0.66%, while peer SK Hynix gained 2.90%. Battery maker LG Energy Solution climbed 2.95%. Hyundai Motor and sister automaker Kia Corp were up 0.49% and 0.10%, respectively. Steelmaker POSCO Holdings added 1.15%, while drugmaker Samsung BioLogics rose 0.10%. ** Of the total 935 traded issues, 539 shares advanced, while 351 declined. Foreigners were net sellers of shares worth 212.5 billion won ($156.66 million). The won was quoted at 1,356.9 per dollar on the onshore settlement platform, 0.32% higher than its previous close at 1,361.3. In money and debt markets, September futures on three-year treasury bonds gained 0.07 point to 107.32.
BusinessToday
2 days ago
- Business
- BusinessToday
KOSPI Retreats On Profit-Taking After Strong Rally
South Korea's benchmark KOSPI Index ended lower on June 27, slipping 0.77% to close at 3,055.94, as investors opted to take profits following a robust June rally that had pushed the index above 3,100 earlier in the week. This marks the second consecutive session of losses, driven largely by broad-based selling in battery, auto and tech sectors. Foreign investors were net sellers, offloading around 855.4 billion won worth of shares, while institutional and retail investors absorbed some of the pressure with net combined purchases of approximately 805 billion won. Despite the pullback, the KOSPI remains up around 15% for the month, bolstered by easing geopolitical tensions and increased institutional inflows that had earlier sent the index to its highest levels in over three years. Battery and automotive stocks led the decline, with LG Energy Solution falling nearly 3% and Hyundai Motor dropping 2.15%, as investors locked in gains. In tech, Samsung Electronics edged up 1%, but SK hynix lost 3.07%, reflecting mixed sentiment in the semiconductor space. Internet giant Naver dipped 1.3%, while SK Innovation slid 2.5% amid broader weakness in energy shares. The recent decline is widely viewed as a natural correction after June's sharp gains. Markets are also awaiting global signals, particularly from the US Federal Reserve, whose next policy steps could influence foreign capital flows into emerging markets like South Korea. At home, recent economic data, including a 0.6% rise in the Leading Economic Index for April, suggest a gradual improvement in macro conditions. Outlook: With the KOSPI still comfortably above the key psychological level of 3,000, analysts believe the index may consolidate in the near term as traders assess global economic cues and domestic earnings updates. Volatility may persist ahead of key data releases and geopolitical developments, but underlying investor appetite remains firm. Related
Japan Today
3 days ago
- Business
- Japan Today
Asian shares mixed after U.S. stocks rise to brink of a record
A dealer walks past near screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a dealing room of Hana Bank in Seoul, South Korea, Friday, June 27, 2025. (AP Photo/Lee Jin-man) By TERESA CEROJANO Asian shares were mixed on Friday, losing some of their morning gains, after U.S. stocks ran to the brink of another record. U.S. futures and oil prices also logged modest gains. Investors were watching for further details after President Donald Trump said the U.S. and China had signed a trade deal. Commerce Secretary Howard Lutnick said in an interview on Bloomberg TV that the deal was signed two days ago, but he gave no details, saying 'The president likes to close these deals himself.' China's Commerce Ministry said Friday that the two sides had 'further confirmed the details of the framework.' But its statement was vague, not explicitly mentioning an agreement to ensure U.S. access to rare earths, materials used in high-tech applications that have been at the center of negotiations. 'China will approve the export applications of controlled items that meet the conditions in accordance with the law. The United States will cancel a series of restrictive measures taken against China accordingly. It is hoped that the United States and China will meet each other halfway,' it said. Worries about Trump's higher tariffs have receded since the president shocked the world in April with stiff proposed levies, but they have not disappeared. The wait is still on to see how big the tariffs will ultimately be, how much they will hurt the economy and how much they will push up inflation. Hong Kong's Hang Seng index lost 0.3% to 24,250.77, while the Shanghai Composite index gave up 0.7% to 3,424.23 after China reported that industrial profits slid 9.1% in May, the sharpest drop since last October. 'Beijing may have paused the worst of the trade fight with Washington, but the tariff scars are showing—and unless demand picks up or pricing stabilizes, the pressure on margins and business sentiment will linger,' Stephen Innes, Managing Partner at SPI Asset Management, said in a commentary. Tokyo's Nikkei 225 index 1.4% to 40,150.79 as the government reported that consumer prices eased slightly in May. South Korea's KOSPI Composite Index fell 0.8% to 3,055.94, while Australia's S&P/ASX 200 shed 0.4% at 8,514.20. Markets have settled somewhat after the upheavals of the Israel-Iran war and its aftermath. On Thursday, the S&P 500 climbed 0.8% to 6,141.02 and was sitting just 0.05% below its all-time closing high set in February. It briefly topped the mark during the afternoon in the latest milestone for the index at the heart of many 401(k) accounts, which had dropped roughly 20% below its record during the spring on worries about President Donald Trump's tariffs. The Dow Jones Industrial Average rallied 0.9% to 43,386.84, and the Nasdaq composite gained 1% to 20,167.91. Reports Thursday added to evidence the U.S. economy is holding up despite higher tariffs and other challenges, though it has slowed. Orders for washing machines and other manufactured goods that last at least three years grew by more last month than economists expected. Another report said fewer U.S. workers filed for unemployment benefits last week, a potential signal of fewer layoffs. A third report said the U.S. economy shrank by more during the first three months of 2025 than earlier estimated. But many economists say those numbers were distorted by a surge in imports as companies tried to get ahead of tariffs. They're expecting a better performance in upcoming months. Following the reports, Treasury yields swiveled up and down in the bond market before easing. The yield on the 10-year Treasury fell to 4.24% from 4.29% late Wednesday. The two-year Treasury yield, which more closely tracks expectations for what the Federal Reserve will do, fell to 3.71% from 3.74% late Wednesday. Analysts said yields may have felt pressure because of a report from The Wall Street Journal saying Trump could name his nominee to replace Fed Chair Jerome Powell unusually early, in an attempt to undermine him. That could hurt confidence among investors about the Fed's capability to make unpopular decisions when it comes to fighting inflation. In other dealings on Friday, the U.S. benchmark crude gained 32 cents to $65.56 per barrel. Brent crude, the international standard, added 34 cents to $67.03 per barrel. The U.S. dollar rose to 144.50 Japanese yen from 144.40 yen. The euro edged higher to $1.1715 from $1.1703. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
