U.S. employment indicators have slowed, boosting expectations for interest rate cuts by the U.S. Federal Reserve (Fed), while the three major indices of the New York Stock Exchange closed higher. As a result, the KOSPI and KOSDAQ indices started strong on the 5th.
As of 9:04 a.m. on this day, the KOSPI index is up 5.67 points (0.16%) from the previous day, showing 3206.50. The KOSPI index opened at 3208.83, up 8 points (0.25%) from the previous day.
The major stocks by market capitalization in the securities market are generally on the rise. Samsung Electronics, SK hynix, Samsung Biologics, Hanwha Aerospace, and Hyundai Motor are increasing, while LG Energy Solution, HD Hyundai Heavy Industries, and Kia are declining.
At the same time, the KOSDAQ index is recording an increase of 3.61 points (0.45%) from the previous day, standing at 809.03.
The major stocks by market capitalization in the KOSDAQ market show mixed trends. The leading stock, Alteogen, is down by about 1%, while Ecopro BM, Ecopro, PharmaResearch, LigaChem Biosciences, ABL Bio, and Rainbow Robotics are on the rise. Peptron and Rainbow Robotics are showing weakness in the early trading.
The three major indices of the New York Stock Exchange closed higher. At the New York Stock Exchange (NYSE), the Dow Jones Industrial Average rose 350.06 points (0.77%) to close at 40,621.29, the S&P 500 increased by 53.82 points (0.83%) to 6,502.08, and the Nasdaq Composite gained 209.97 points (0.98%) to finish at 21,707.69.
U.S. employment indicators have shown weakness, reinforcing the idea of 'employment slowdown.' This has increased expectations for interest rate cuts. The decline in U.S. government bond yields for the second consecutive day has also boosted the attractiveness of stocks, considered risk assets.
Meanwhile, in the Seoul foreign exchange market, the dollar-won exchange rate is trading at 1,393.00 won, up 0.5 won from the previous day.