Regional markets mixed, Seoul tech shares slide

Business | 10 Sep 2019 12:02 pm

Regional equity markets were mixed today after a day of listless trading on Wall Street, as investors awaited signs on global interest rates.

In Tokyo, stocks advanced. The 225-issue Nikkei Stock Average gained 41.73 points, or 0.20 percent, from Monday to 21,360.15. The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, added 6.16 points, or 0.40 percent, at 1,557.27.

Australia’s S&P/ASX 200 fell by 0.5 percent to 6,618.20.

In Seoul, stocks traded higher late morning. The benchmark Korea Composite Stock Price Index (KOSPI) won 4.95 points, or 0.25 percent, to 2,024.50, as of 11:20 a.m local time. The local stock market rose for the fifth consecutive session.

Financial firms were bullish, with Shinhan Financial rising by 1.33 percent and KB Financial moving up 2.07 percent. No 1 steelmaker POSCO added 2.53 percent, and Hyundai Steel gained by 1.83 percent.

Tech stocks suffered losses. Market kingpin Samsung Electronics lost 0.32 percent, and No. 2 chipmaker SK hynix fell by 1.66 percent. Samsung SDI slipped 2.70 percent.

On Wall Street, the S&P 500 ended virtually flat as losses in technology and health care stocks outweighed gains in financials and other sectors. The Russell 2000 index of smaller company stocks, which has lagged the S&P 500 this year, outpaced the rest of the market.

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