South Korean stocks could perhaps fade further

(RTTNews) – South Korea’s stock market rose for three consecutive intervals, advancing more than 90 aspects, or 3.6 percent. The KOSPI is now effectively above the 2,490 plateau, even if investors may have merely locked in the upside on Wednesday.

The outlook for Asian markets is negative due to renewed concerns about the interest rate outlook. European markets were mixed and US stocks fell, while Asian markets decided to look into the latter.

The KOSPI posted a reasonable gain on Monday after mixed results from cash stocks, chemical stocks, technology stocks and industrials.

For the day, the index rose 3.46 points, or 0.14 percent, to 2,492.10 after trading between 2,492.09 and 521.86. The volume used to be 400.83 million share commissions of 9.23 trillion won. 444 gained and 425 declined.

Among many actives, KB Monetary nevertheless fell 0.12 percent, while Hana Monetary fell 0.17 percent, Samsung Electronics fell 0.89 percent, Samsung SDI climbed 1.00 percent, LG Electronics was rose 0.23 percent, SK Hynix fell 2.40 percent, Naver fell 0.24 percent, LG Chem fell. 0.39 percent, Lotte Chemical rose 0.33 percent, SK Innovation rose 3.03 percent, POSCO Holdings gained 0.19 percent, SK Telecom gained 0.36 percent, KEPCO strengthened by 2.35 percent, Hyundai Mobis jumped 1.84 percent, Hyundai Motor fell 0.24 percent, Kia Motors fell 1.39 percent and Shinhan Monetary once be unchanged.

The lead from Wall Avenue is poor, as the major averages started relatively higher on Tuesday but fell quickly to reach deep into the red.

The Dow fell 178.20 points, or 0.42 percent, to 42,528.36, while the NASDAQ tumbled 375.30 points, or 1.89 percent, to end at 19,489.68 and the S&P 500 fell 66.35 points. or 1.11 percent and stopped at 5,909.03.

The stunning pullback in stocks came amid a substantial rise in Treasury yields, with the yield on the benchmark 10-year level hitting a full closing rate in eight months.

The jump in Treasury yields, which raised concerns about the interest rate outlook, came after some upbeat US economic records were released.

The Institute for Supply Management acknowledged that the task of the US service sector was higher than expected in December. The document also confirmed that the cost index had risen to a one-year high, leading to concerns that inflation would remain unchanged. The Labor Department also confirmed that U.S. job vacancies rose impulsively in November.

Oil prices rose on Tuesday amid possible supply shortages after China decided to cut imports from Iran and Russia, while unseasonably cold weather in the US added to the rise in oil prices. West Texas Intermediate Low crude futures for February were up $0.69, or 0.94 percent, at $74.25 a barrel.

Closer to home, South Korea will look to November’s latest yarn numbers later this morning; in October, the latest yarn surplus was $9.78 billion.

The views and opinions expressed herein are those of the creator and do not necessarily reflect the views and opinions of Nasdaq, Inc.