The South Korean stock market has been fluctuating with positive and negative results alternately for the past four days following a three-day streak of minor positive gains. Just under the 2,720-point mark, the KOSPI is expected to hover around the same level on Tuesday.
The global forecast for Asian markets predicts varied performances this week, factoring in significant upcoming data. European markets saw an uptrend, while the U.S. market remained relatively constant, with the Asian market likely to follow suit.
On Monday, the KOSPI index finished marginally higher, with gains in financial and industrial sectors counterbalanced by losses in oil and chemical industries. The index rose by 0.13 percent or 3.44 points to reach 2,717.65 with total trading valued at 10.36 trillion won. The trading session recorded 590 decliners and 277 gainers.
Market activity saw Shinhan Financial up by 0.68 percent, KB Financial rising by 0.29 percent, and Hana Financial rallying by 2.42 percent. However, there were declines too — LG Electronics by 1.46 percent, SK Hynix by 0.88 percent, and Naver by 1.68 percent. LG Chem saw a sharp fall of 2.95 percent and Lotte Chemical fell by 2.65 percent. On the other hand, POSCO jumped 2.15 percent, Hyundai Motor escalated by 3.10 percent, and Kia Motors soared by 3.33 percent.
U.S. Wall Street's uncertain finish on Monday provided little clarity. The Dow decreased by 0.03 percent, the NASDAQ increased by 0.03 percent, and the S&P 500 slid by 0.04 percent.
Traders are exercising caution as they wait for the key inflation data release this week. This data could significantly affect the interest rate forecast as Federal Reserve officials have stated that they need to see a slowdown in inflation before reducing rates. Also anticipated this Wednesday is the update from the Fed's latest monetary policy meeting, which might offer more insights into the officials' view on rates.
Oil prices slightly fell on Monday due to a slight ease in geopolitical tensions following Israel's withdrawal of troops from Southern Gaza. The West Texas Intermediate Crude oil futures for May ended down 0.55 percent at $86.43 a barrel.
