Latest news with #Kospi
The Star
a day ago
- Business
- The Star
Bursa Malaysia sinks amid foreign sell-off and regional weakness
KUALA LUMPUR: Bursa Malaysia remained under selling pressure on Friday as foreign investors continued to pare down their holdings, amid ongoing tariff concerns and weakness in regional markets. The benchmark FBM KLCI slid 10.63 points, or 0.7%, to 1,508.35 — its intraday low. It fell 1.8% for the week and about 2.1% for the month of May. Stocks that fell outnumbered those that rose 616 to 336, with another 418 counters unchanged. A total of 3.2 billion shares changed hands, worth RM5.04bil. Dealers said selling in the past few days has shaken market sentiment, pushing more investors to the sidelines. They added that overall conditions remain tepid, with interest staying relatively muted even as foreign investors continue to sell. Among the decliners, Nestle tumbled RM2.26 to RM78.60, Ajinomoto slid RM1.28 to RM12.96, PETRONAS Dagangan fell 80 sen to RM19.70 and Heineken lost 60 sen to RM7.10. Hong Leong Financial Group rose 32 sen to RM16.58, Bintulu Port gained 21 sen to RM5.46, F&N added 20 sen to RM27.30 and Kumpulan Fima climbed 19 sen to RM2.58. Among the actives, KPJ slid 24 sen to RM2.72, with 81.42 million shares traded, Eco Shop added seven sen to RM1.26, with 63.15 million shares done, and Public Bank traded flat at RM4.31, with 62.14 million shares changing hands. Meanwhile, the ringgit was quoted at 4.2585, slipping 0.36% against the US dollar. It also fell 0.24% to 3.2969 against the Singapore dollar. Among the key regional markets: Japan's Nikkei 225 closed down 1.22% to 37,965.10; South Korea's Kospi slipped 0.84% to 2,697.67; Hong Kong's Hang Seng Index fell 1.2% to 23,289.77; China's CSI 300 Index finished down 0.48% to 3,840.23 and; Singapore's Straits Times Index fell 0.57% to 3,894.61 points.
Korea Herald
2 days ago
- Business
- Korea Herald
Backed by Jim Rogers, Lee Jae-myung stresses peace on Korean Peninsula for economic rebound
Democratic Party presidential candidate Lee Jae-myung on Friday highlighted the need for South Korea to achieve peace on the Korean Peninsula to bring about an economic recovery. In a Facebook post, Lee welcomed the endorsement of US investment guru Jim Rogers, chairman of Rogers Holdings, calling attention to Rogers' belief in the country's economic potential on the foundation of rapprochement between the two Koreas. 'If we have fair rules, transparent governance, a stable peace regime on the Korean Peninsula, and solid industrial and economic policies, our stock market has far more room to grow,' Lee wrote. He echoed Rogers' view that 'peace is not just a political issue but an economic strategy,' and that Korea could become the trade, finance and innovation hub of Northeast Asia. Rogers has long underscored the economic potential of the Korean Peninsula, particularly in the context of inter-Korean cooperation and regional stability. His support was publicly delivered on Thursday through a statement read at the National Assembly by representatives of businesses at the Kaesong Industrial Complex, a joint industrial complex once operated by the two Koreas that was shut down in 2016. In the statement, Rogers touted Lee as the candidate who is capable of "ending the era of confrontation and opening a new chapter of peace, growth, and global leadership." Rogers, who took part in a virtual dialogue on economics with Lee in January 2022, also argued that a peaceful Korea would not only boost investor confidence but also unlock millions of new jobs and potentially send the Kospi to historic highs. 'Let us invest in peace. Let us invest in the future. Let us invest in Korea. The choice is Lee Jae-myung,' he said.
San Francisco Chronicle
2 days ago
- Business
- San Francisco Chronicle
Asian shares mostly decline as uncertainty grows about what's next with Trump's tariffs
TOKYO (AP) — Asian shares were mostly lower Friday as uncertainty grew about what will happen next after a U.S. court blocked many of President Donald Trump's sweeping tariffs. Japan's benchmark Nikkei 225 lost 1.4% in morning trading to 37,892.39. Government data showed Tokyo core inflation, excluding fresh food, accelerating to a higher-than-expected 3.6% in May. Some analysts say that makes it more likely the Bank of Japan will raise interest rates. Australia's S&P/ASX 200 was little changed, inching down less than 0.1% to 8,404.50. South Korea's Kospi declined 0.6% to 2,703.64, ahead of a presidential election set for next week. Hong Kong's Hang Seng slipped 1.4% to 23,235.94, while the Shanghai Composite shed 0.3% to 3,353.07. On Wall Street, the S&P 500 rose 0.4% on Thursday after giving up more than half of an early gain. The Dow Jones Industrial Average added 117 points, or 0.3%, and the Nasdaq composite rose 0.4%. It's a downshift after stocks initially leaped nearly 2% in Tokyo and Seoul, where markets had the first chance to react to the ruling late Wednesday by the U.S. Court of International Trade. The court said that the 1977 International Emergency Economic Powers Act that Trump cited for ordering massive increases in taxes on imports from around the world does not authorize the use of tariffs. The ruling at first raised hopes in financial markets that a hamstrung Trump would not be able to drive the economy into a recession with his tariffs, which had threatened to grind down on global trade and raise prices for consumers already sick of high inflation. But the tariffs remain in place for now while the White House appeals the ruling, and the ultimate outcome is still uncertain. The court's ruling also affects only some of Trump's tariffs, not those on foreign steel, aluminum and autos, which were invoked under a different law. The Court of Appeals for the Federal Circuit on Thursday allowed the president to temporarily continue collecting the tariffs under the emergency powers law while he appeals the trade court's decision. Trump 'is still able to impose significant and wide-ranging tariffs over the longer-term through other means,' according to Ulrike Hoffmann-Burchardi, chief investment officer of global equities at UBS Global Wealth Management. On Wall Street, tech stocks led the way after Nvidia once again topped analysts' expectations for profit and revenue in the latest quarter. The chip company has grown into one of the U.S. market's largest and most influential stocks because of the frenzy around artificial-intelligence technology, and its 3.2% rise was the strongest force by far lifting the S&P 500. Best Buy fell 7.3% even though it reported a stronger profit than expected. The electronics retailer also cut its forecasted ranges for revenue and profit over the full year on the assumption that 'tariffs stay at the current levels,' Chief Financial Officer Matt Bilunas said. All told, the S&P 500 rose 23.62 points to 5,912.17. The Dow Jones Industrial Average added 117.03 to 42,215.73, and the Nasdaq composite gained 74.93 to 19,175.87. In the bond market, Treasury yields eased following some mixed reports on the economy. One said that the U.S. economy likely shrunk by less in the first three months of the year than earlier estimated. Another said slightly more U.S. workers applied for unemployment benefits last week than economists expected. The yield on the 10-year Treasury fell to 4.43% from 4.47% late Wednesday. In energy trading, benchmark U.S. crude dropped 30 cents to $60.64 a barrel. Brent crude, the international standard, fell 31 cents to $63.84 a barrel. In currency trading, the U.S. dollar declined to 143.92 Japanese yen from 144.12 yen. The euro cost $1.1355, down from $1.1367. ___ AP Business Writer Stan Choe in New York contributed.
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Business Standard
2 days ago
- Business
- Business Standard
Stocks to Watch today: Bajaj Auto, Ola, Suzlon Energy, Texmaco Rail, RVNL
Stocks to Watch Today, Friday, May 30, 2025: Domestic equity markets are set for a cautious opening amid weak global cues, as the benchmark Nifty50 struggles to post a strong close above the 25,000 level. GIFT Nifty hinted at a muted start for domestic stocks. The early indicator of the Nifty 50 Index's performance in India was up 3 points or 0.01 per cent at 24,945 as of 7:40 AM. Most equity markets in Asia slipped after a federal appeals court temporarily reinstated the most sweeping of US President Donald Trump's tariffs. Last checked, Japan's Nikkei was lower by 1.6 per cent while South Korea's Kospi was down 0.5 per cent. Meanwhile, Wall Street ended slightly higher on Tuesday even after the US economy shrank in the first quarter, with the GDP falling 0.2 per cent. The S&P 500 index rose by 0.40 per cent while the Dow Jones Industrial Average was up 0.28 per cent. Back home, on Thursday, the BSE Sensex settled 320.70 points or 0.39 per cent higher at 81,633.02, while the Nifty50 rose 81.15 points or 0.33 per cent to end at 24,833.6. FIIs bought shares worth ₹884.03 crore, while DIIs net bought equities worth ₹4,286.5 crore. Track LIVE Market Updates Here Meanwhile, below are some stocks to watch during today's session: Q4 earnings corner: Bajaj Auto: The two-wheeler major reported a 10.4 per cent year-on-year (Y-o-Y) decline in their consolidated net profit at ₹1,802 crore for the fourth quarter of the financial year 2024-25 (Q4FY25), whereas its revenue from operations grew by 8 per cent, reaching ₹12,204 crore. Suzlon Energy: The company's net profit surged multi-fold to ₹1,180.98 crore in Q4FY25, compared to ₹254.12 crore in the same period of the previous fiscal year. Revenue from operations rose 73 per cent Y-o-Y to ₹3,773.54 crore in Q4 FY25. Nuvama Wealth Management: The company reported a 41 per cent growth in net profit to ₹255 crore in Q4FY25. Its total income rose to ₹1,125 crore during the March quarter from ₹929 crore in the corresponding quarter of FY24. Wockhardt: The drug firm reported a consolidated net loss of ₹45 crore in Q4FY25, against a net loss of ₹177 crore in the same period last year. Its revenue from operations rose to ₹743 crore in the fourth quarter as compared to ₹700 crore in the year-ago period. Sobha: The real estate company's profit increased 481.7 per cent to ₹40.85 crore in the fourth quarter, against a profit of ₹7.02 crore for the same quarter of the previous financial year. The company's revenue from operations rose by 62 per cent to ₹1,240.61 crore in the Q4FY25. Other stocks in news: Prestige Estates Projects: The realty firm has partnered with Valor Group to develop an office complex worth ₹4,500 crore in Mumbai. The project encompasses a total leasable area of 1.5 million square feet and a Gross Development Value (GDV) of approximately ₹4,500 crore. Texmaco Rail & Engineering: The company secured a fresh order worth ₹140.55 crore from the Ministry of Railways for supplying flat multi-purpose wagons. The order is part of the government's push to modernise and improve the country's freight operations. Sunteck Realty: The real estate developer has been appointed as the developer for the redevelopment of a housing society in Mumbai's Andheri (East). The GDV of the project is estimated to be ₹1,100 crore. Wipro: The tech giant rolled out its global Wipro Innovation Network, an initiative aimed at accelerating co-innovation with clients using cutting-edge technologies. The network will bring together expertise from across the globe to help solve complex challenges across industries, leveraging technologies like artificial intelligence and quantum computing. Rail Vikas Nigam: The firm signed an MoU with Texmaco Rail to collaborate on railway infrastructure, including rolling stock manufacturing, metro coach production, EPC projects, and innovation in automation, digitalisation, and green technologies for future strategic initiatives. NLC: The company signed an agreement with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd. to form a joint venture dedicated to advancing green energy projects. UltraTech Cement: The company has completed the acquisition of 100 per cent equity in Wonder WallCare Private Limited on 29th May 2025, making it a wholly-owned subsidiary effective immediately.
The Hill
2 days ago
- Business
- The Hill
Asian shares mostly decline as uncertainty grows about what's next with Trump's tariffs
TOKYO (AP) — Asian shares were mostly lower Friday as uncertainty grew about what will happen next after a U.S. court blocked many of President Donald Trump's sweeping tariffs. Japan's benchmark Nikkei 225 lost 1.4% in morning trading to 37,892.39. Government data showed Tokyo core inflation, excluding fresh food, accelerating to a higher-than-expected 3.6% in May. Some analysts say that makes it more likely the Bank of Japan will raise interest rates. Australia's S&P/ASX 200 was little changed, inching down less than 0.1% to 8,404.50. South Korea's Kospi declined 0.6% to 2,703.64, ahead of a presidential election set for next week. Hong Kong's Hang Seng slipped 1.4% to 23,235.94, while the Shanghai Composite shed 0.3% to 3,353.07. On Wall Street, the S&P 500 rose 0.4% on Thursday after giving up more than half of an early gain. The Dow Jones Industrial Average added 117 points, or 0.3%, and the Nasdaq composite rose 0.4%. It's a downshift after stocks initially leaped nearly 2% in Tokyo and Seoul, where markets had the first chance to react to the ruling late Wednesday by the U.S. Court of International Trade. The court said that the 1977 International Emergency Economic Powers Act that Trump cited for ordering massive increases in taxes on imports from around the world does not authorize the use of tariffs. The ruling at first raised hopes in financial markets that a hamstrung Trump would not be able to drive the economy into a recession with his tariffs, which had threatened to grind down on global trade and raise prices for consumers already sick of high inflation. But the tariffs remain in place for now while the White House appeals the ruling, and the ultimate outcome is still uncertain. The court's ruling also affects only some of Trump's tariffs, not those on foreign steel, aluminum and autos, which were invoked under a different law. The Court of Appeals for the Federal Circuit on Thursday allowed the president to temporarily continue collecting the tariffs under the emergency powers law while he appeals the trade court's decision. Trump 'is still able to impose significant and wide-ranging tariffs over the longer-term through other means,' according to Ulrike Hoffmann-Burchardi, chief investment officer of global equities at UBS Global Wealth Management. On Wall Street, tech stocks led the way after Nvidia once again topped analysts' expectations for profit and revenue in the latest quarter. The chip company has grown into one of the U.S. market's largest and most influential stocks because of the frenzy around artificial-intelligence technology, and its 3.2% rise was the strongest force by far lifting the S&P 500. Best Buy fell 7.3% even though it reported a stronger profit than expected. The electronics retailer also cut its forecasted ranges for revenue and profit over the full year on the assumption that 'tariffs stay at the current levels,' Chief Financial Officer Matt Bilunas said. All told, the S&P 500 rose 23.62 points to 5,912.17. The Dow Jones Industrial Average added 117.03 to 42,215.73, and the Nasdaq composite gained 74.93 to 19,175.87. In the bond market, Treasury yields eased following some mixed reports on the economy. One said that the U.S. economy likely shrunk by less in the first three months of the year than earlier estimated. Another said slightly more U.S. workers applied for unemployment benefits last week than economists expected. The yield on the 10-year Treasury fell to 4.43% from 4.47% late Wednesday. In energy trading, benchmark U.S. crude dropped 30 cents to $60.64 a barrel. Brent crude, the international standard, fell 31 cents to $63.84 a barrel. In currency trading, the U.S. dollar declined to 143.92 Japanese yen from 144.12 yen. The euro cost $1.1355, down from $1.1367.
