seoul shares rise 197on us optimism
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Seoul shares rise 1.97 % on U.S. optimism

Arab Today, arab today

Arab Today, arab today Seoul shares rise 1.97 % on U.S. optimism

Seoul - Yonhap

South Korean stocks rose 1.97 percent Wednesday as investors were emboldened by growing hope that the U.S. will come up with another stimulus package, analysts said. The local currency gained against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) surged 36.29 points to close at 1,880.11, gaining for five sessions running. Trading volume was moderate at 398.9 million shares worth 5.9 trillion won (US$5.5 billion), with gainers outnumbering losers 615 to 232. "The market is anticipating what will come next in September. The Fed hinted at a third round of quantitative easing at its September meeting. U.S. President Barack Obama's Labor Day speech will also matter," said Lee Kyung-soo, an analyst at Shinyoung Securities Co. U.S. stock markets ended higher on Tuesday on the release of the Fed's August minutes that said the Fed will intervene with aggressive steps to boost the weak economy, overcoming the earlier losses caused by the worse-than-expected consumer confidence for August. Brisk foreign buying powered the KOSPI's jump. Offshore investors snapped up a net 290.5 billion won worth of shares, while retail investors offloaded 345.7 billion won. "But there remains uncertainty in the market. Washington doesn't seem to hold enough fiscal measures to boost the slowing economy and the eurozone might face another debt crisis as Italian debt matures next month," said Lee. He added that a slowdown in South Korea's July industrial output growth limited the gain. Production in the mining and manufacturing sectors expanded 3.8 percent on-year last month from a year earlier, the slowest increase in 10 months. Cars and oil refiners led the rally with top carmaker Hyundai Motor jumping 3.31 percent to 203,000 won and leading refiner SK Innovation rising 2.74 percent to 169,000 won. Market bellwether Samsung Electronics rose 0.27 percent to finish at 744,000 won and its smaller rival LG Electronics soared 4.06 percent to 66,600 won. Financials were also bullish as second-biggest banking group KB Financial Group added 1.85 percent to 44,100 won and No. 1 player Woori Finance Holdings gained 0.42 percent to close at 11,850 won. The local currency closed at 1,066.8 won to the greenback, up 4.8 won from Tuesday's close, as overseas investors bought more Korean shares than they sold, dealers said. Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasuries rose 0.01 percentage point to 3.49 percent and the return on the benchmark five-year government bonds added 0.01 percentage point to 3.62 percent

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

seoul shares rise 197on us optimism seoul shares rise 197on us optimism

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

seoul shares rise 197on us optimism seoul shares rise 197on us optimism

 



GMT 00:24 2017 Wednesday ,11 October

Bangladesh Commandos End Hostage Siege, Kill Six Gunmen

GMT 18:38 2017 Thursday ,26 October

Foreign minister bids farewell to US ambassador

GMT 13:15 2017 Wednesday ,06 December

Catalonia's Puigdemont says to stay in Belgium 'for now'

GMT 12:53 2016 Wednesday ,21 September

The tears and laughter of Yasmina Reza's lost Babylon

GMT 00:15 2017 Wednesday ,15 March

Transparency is the basis of UAE, Saif says

GMT 21:49 2017 Wednesday ,25 October

Tehran will become Pyongyang if not contained
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday