Seoul closes almost flat for the second day in a row
The Seoul Stock Exchange closed today almost flat for the second session in a row. Kospi, its main indicator, registered a fall of 0.09% in a session in which traders once again preferred to hold positions pending key data on the recovery.
The selective dropped by 2.92 points to 3,165.51. By contrast, the Kosdaq technology stock index advanced 0.83%, or 8.02 points, to close at 974.08 units.
The day started without enthusiasm, with the trading floor pending the release of consumption data in the US on Friday. It gives more indications about the pace of recovery and potential clues on inflation and a possible change of course in monetary policy.
In that sense, the Bank of Korea today improved its growth outlook for the Asian country by one-tenth which caused sales.
Thus, the main values of the South Korean stocks returned to receive mixed closings.
Tech giant Samsung Electronics closed with a drop of 0.25%. Meanwhile, SK Hynix gained 2.03%.
Naver, the largest South Korean internet portal, fell by 1.38%. However, Kakao, the country’s leading instant messaging application owner, advanced by 4.6%.
Biopharmaceutical Samsung Biologics lost again. This time it yielded 2.16%, and its competitor Celltrion dropped by 0.55%.
Hyundai Motor, the largest national vehicle manufacturer, fell by 1.34%.
Hong Kong stock exchange is down by 0.2%
Hang Seng closed today with losses of 0.18% after information that Beijing has asked the digital giant Tencent to put its ‘fintech’ businesses in a financial affiliate that the government can more closely supervise.
The selective lost 52.81 points to 29,113.2, while the index that measures the behavior of mainland Chinese companies listed on the Hong Kong stock market, the Hang Seng China Enterprises, dropped by 0.07%.
Services and Commerce and Industry rose, and Real Estate and Finance fell.
In the latter sector, the most affected was the local subsidiary of the state-owned Bank of China, BOC Hong Kong. Meanwhile, in real estate, that questionable honor went to Country Garden.
Alibaba rose by 0.87%.
