Arab Today, arab today south korean shares rise on rate cuts in china
Last Updated : GMT 01:38:25
Arab Today, arab today
Arab Today, arab today

South Korean shares rise on rate cuts in China

Arab Today, arab today

Arab Today, arab today South Korean shares rise on rate cuts in China

South Korean shares
Seoul - XINHUA

South Korean shares ended higher Monday on expectations that last week's rate cuts in China would boost the world's second-largest economy, the No.1 trading partner of South Korea.
The benchmark Korea Composite Stock Price Index (KOSPI) advanced 13.7 points, or 0.7 percent, to 1,978.54 at the close. Trading volume stood at 322.59 million shares worth 5.48 trillion won (4.93 billion U.S. dollars).
The People's Bank of China (PBOC) cut the benchmark rate for one-year deposits by 25 basis points, or a quarter percentage point to 2.75 percent and the one-year lending rate by 40 basis points to 5.6 percent last week, the first alteration in more than two years.
The rate cuts to reduce financing costs in the private sector boosted expectations for China's economic recovery.
Steel and oil-refining firms, which rely heavily on China for overseas sales, gained ground. The biggest steelmaker POSCO jumped 6.2 percent, and top oil refiner SK Innovation surged 10.8 percent.
Brokerage shares ended up on speculation over higher local stocks after the monetary easing in China. Samsung Securities and Hyundai Securities advanced more than 4 percent, and Daewoo securities climbed 3.1 percent.
Expectations for an expanded asset-buying program in Europe bolstered market sentiment. European Central Bank President Mario Draghi said last week that policy makers will prop up inflation expectations as quickly as possible.
Expectations are also running high for the year-end shopping season in the United States, which is expected to turn the balance sheet of American companies from the red to the black during the big discount-sale period.
Foreign and institutional investors bought stocks worth 328.8 billion won and 94.9 billion won respectively, while retail investors sold shares worth 426.1 billion won to lock in recent profits.
Large-cap shares ended mixed. Market bellwether Samsung Electronics slid 0.3 percent, and the state-run power supplier Korea Electric Power Corp. declined 3.5 percent. Naver, the owner of the most-used search engine, fell 1.7 percent, but top automaker Hyundai Motor advanced 3.9 percent. Memory chip giant SK Hynix rose 1.4 percent, and the biggest auto parts maker Hyundai Mobis climbed 3.4 percent.
The South Korean currency closed at 1,112.3 won against the greenback, up 1.5 won from Friday's close.
Bond prices ended higher. Yields on the liquid three-year treasury notes slid 4.0 basis points to 2.121, and the return on the benchmark 10-year government bonds declined 4.3 basis points to 2.682 percent. Enditem

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today south korean shares rise on rate cuts in china Arab Today, arab today south korean shares rise on rate cuts in china

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 20:52 2017 Tuesday ,21 February

Asia stocks consolidate recent gains; China shines

GMT 10:37 2017 Tuesday ,21 February

Most Asia markets up as rally presses ahead

GMT 05:34 2017 Tuesday ,21 February

7 firms to list on 2nd Saudi stock board

GMT 19:53 2017 Monday ,20 February

Large stocks fall pushing down Nairobi bourse

GMT 18:36 2017 Monday ,20 February

Heavy selling drags Oman shares lower

GMT 06:16 2017 Monday ,20 February

Bank shares lift Tadawul
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday