The South Korean stock market has experienced a positive momentum over two consecutive sessions, gaining almost 90 points or 3.6 percent. The KOSPI index is currently positioned just below the 2,490 threshold and appears poised for further gains on Tuesday.
The outlook for Asian markets is optimistic, fueled by anticipated advances in technology stocks. This follows a mostly upward trend in European and U.S. markets, encouraging similar expectations for Asian stock exchanges.
On Monday, KOSPI closed significantly higher, driven by strong performances in financial shares, technology stocks, and chemical sector companies. The index rose by 46.72 points, marking a 1.91 percent increase, to settle at 2,488.64, with trading oscillating between 2,446.82 and 2,489.10. The day's trading volume registered at 296.92 million shares, translating to a value of 8.05 trillion won. The market recorded 628 advancing stocks against 257 declining ones.
Key performers included Shinhan Financial, up 1.56 percent; KB Financial, up 2.03 percent; Hana Financial, up 1.40 percent; and Samsung Electronics, surging 2.76 percent. Samsung SDI saw a 0.81 percent rise, SK Hynix jumped 9.84 percent, and Naver spiked 3.99 percent. LG Chem increased by 1.18 percent, Lotte Chemical by 0.33 percent, and POSCO Holdings climbed 1.16 percent. In contrast, SK Telecom fell 1.94 percent, KEPCO dipped 0.10 percent, Hyundai Mobis decreased 0.81 percent, Hyundai Motor dropped 0.70 percent, Kia Motors slid 0.20 percent, with LG Electronics and SK Innovation remaining unchanged.
The U.S. stock market provides a largely favorable lead with major indices opening higher on Monday, though the Dow Jones Industrial Average ended slightly down. The Dow decreased by 25.57 points or 0.06 percent to close at 42,706.56, while the NASDAQ climbed 243.30 points, a 1.24 percent rise, finishing at 19,864.98. Meanwhile, the S&P 500 added 32.91 points, increasing by 0.55 percent to conclude at 5,975.38.
The initial rally on Wall Street was supported by continued tech stock strength, especially after Foxconn, a contract electronics giant, reported record fourth-quarter revenue driven by robust demand for AI servers. Additionally, market sentiment was bolstered by reports suggesting President-elect Donald Trump may reduce his proposed tariffs.
In commodities, crude oil prices couldn’t sustain early gains on Monday, breaking a five-day winning streak. However, losses were mitigated as Saudi Arabia, the world's leading oil exporter, increased prices for Asian buyers for the first time in three months. West Texas Intermediate Crude for February delivery saw a decline of $0.46, or 0.5 percent, closing at $73.50 per barrel.
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