S. Korean stocks edge higher on foreign buying
Arirang News
2019-05-30
Views 0
코스피 외인•기관 매수에 2030선 회복
Korean stocks rose today despite another big dip on Wall street.
The rise is partly thanks to a lower tax on transactions that took effect today.
But there are still concerns over the U.S.-China trade conflict... and a possible sign of recession from the bond market.
Kim Hyesung reports.
The benchmark KOSPI rose Thursday by point-eight percent to close at 20-38-point-eight.
This rebound comes after the KOSPI shed more than one percent in the previous session, bringing it to the lowest level since January.
The bounce back was led by net buying from foreigners thanks to a lower stock transaction tax and better performance by Korean IT companies.
But the rebound was limited as trade tensions between the U.S.and China are showing no sign of easing and because of concerns over global growth.
U.S. shares fell sharply on Wednesday.
The Dow Jones Industrial Average shed more than 2-hundred-20 points, or point-9 percent, the S&P 500 lost point-7 percent, and the Nasdaq point-8 percent.
This as U.S.-China trade tensions continued to weigh on stocks after Chinese state media suggested Beijing may slash exports of rare-earth minerals, a key component in devices ranging from smartphones to TVs, opening another front in its trade war with the U.S.
"The trade conflict with Beijing could not only hurt the Chinese economy, but also the U.S. and the global economy, and Korea, in particalar, affecting intermediary goods and trade. The Trump Administration's latest currency tariff threat is also a huge risk factor weighing on the global economy. The stock market will remain volatile for some time."
Uncertainties over U.S.-China trade tensions and global growth led investors further into the relative safety of government bonds, pulling down yields.
The yield gap between the U.S. 10-year Treasury note and the 3-month Treasury bill, often watched as an early signal of a pending recession, slid to a twelve-year low of minus 13 basis points.
The U.S. dollar rose for a third day versus its major peers, including the Japanese yen.
Gold, another investor safe haven, climbed... and oil retreated.
Kim Hyesung, Arirang News.
Korean stocks rose today despite another big dip on Wall street.
The rise is partly thanks to a lower tax on transactions that took effect today.
But there are still concerns over the U.S.-China trade conflict... and a possible sign of recession from the bond market.
Kim Hyesung reports.
The benchmark KOSPI rose Thursday by point-eight percent to close at 20-38-point-eight.
This rebound comes after the KOSPI shed more than one percent in the previous session, bringing it to the lowest level since January.
The bounce back was led by net buying from foreigners thanks to a lower stock transaction tax and better performance by Korean IT companies.
But the rebound was limited as trade tensions between the U.S.and China are showing no sign of easing and because of concerns over global growth.
U.S. shares fell sharply on Wednesday.
The Dow Jones Industrial Average shed more than 2-hundred-20 points, or point-9 percent, the S&P 500 lost point-7 percent, and the Nasdaq point-8 percent.
This as U.S.-China trade tensions continued to weigh on stocks after Chinese state media suggested Beijing may slash exports of rare-earth minerals, a key component in devices ranging from smartphones to TVs, opening another front in its trade war with the U.S.
"The trade conflict with Beijing could not only hurt the Chinese economy, but also the U.S. and the global economy, and Korea, in particalar, affecting intermediary goods and trade. The Trump Administration's latest currency tariff threat is also a huge risk factor weighing on the global economy. The stock market will remain volatile for some time."
Uncertainties over U.S.-China trade tensions and global growth led investors further into the relative safety of government bonds, pulling down yields.
The yield gap between the U.S. 10-year Treasury note and the 3-month Treasury bill, often watched as an early signal of a pending recession, slid to a twelve-year low of minus 13 basis points.
The U.S. dollar rose for a third day versus its major peers, including the Japanese yen.
Gold, another investor safe haven, climbed... and oil retreated.
Kim Hyesung, Arirang News.
Report form
RELATED VIDEOS
