South Korean Stock Market Ends Two-Day Rally
The South Korean stock market concluded a two-day rally on Tuesday, giving back over 55 points or approximately 2%. The KOSPI index now hovers just above the 2,735 mark, signaling potential downside movement in the near term.
Regional Market Outlook
Across Asia, markets are expected to open on a cautious note, with mixed to downward trends anticipated, especially in technology sectors. This follows a global pattern where European and U.S. indices displayed mixed, often negative, performances.
Domestic Market Performance
On Tuesday, the KOSPI declined sharply, influenced by declines in energy, technology, and industrial sectors, while financial stocks showed mixed results. The index closed down 27.34 points, or 0.99%, at 2,738.19, with a trading volume of 376.4 million shares valued at 9.9 trillion won. There were 664 decliners versus 225 gainers.
Financial Sector
Major financial institutions like Shinhan Financial and KB Financial experienced declines of nearly 2%, whereas Hana Financial gained 1.59%.
Technology Sector
Technology giants such as Samsung Electronics and Sam...