FX.co ★ Win Streak May Continue For South Korea Stock Market

The South Korean stock market has seen gains over consecutive sessions, rising more than 20 points or 0.7 percent in total. The KOSPI currently stands just above the 2,800 mark and is poised to extend its gains on Tuesday. The global outlook for Asian markets is relatively stable, primarily due to anticipation surrounding the forthcoming U.S. employment data. Both European and U.S. markets closed slightly higher, and similar trends are expected in Asian markets.

On Monday, the KOSPI gained slightly amid mixed performances among financial, technology, and chemical stocks. The index rose by 6.49 points or 0.23 percent, closing at 2,804.31. Trading volume stood at 452.5 million shares, valued at 9.8 trillion won. There were 494 losers and 379 gainers. Key movements included Shinhan Financial declining by 0.62 percent, KB Financial advancing by 1.40 percent, Hana Financial decreasing by 0.82 percent, Samsung Electronics increasing by 0.37 percent, and Samsung SDI surging by 3.67 percent. Conversely, LG Electronics fell by 1.17 percent, SK Hynix dropped by 0.42 percent, Naver tumbled by 2.40 percent, and Hyundai Motor plunged by 3.05 percent, among other notable movements.

Wall Street offered a cautiously optimistic lead as markets opened slightly higher on Monday and largely maintained that trajectory before closing in the green. The Dow Jones Industrial Average added 50.66 points or 0.13 percent, ending at 39,169.52. Meanwhile, the NASDAQ Composite rallied by 146.70 points or 0.83 percent to close at 17,879.30, and the S&P 500 gained 14.61 points or 0.27 percent, finishing at 5,475.09.

The muted performance on Wall Street was attributed to traders awaiting the Labor Department's closely followed monthly jobs report due on Friday, which is anticipated to indicate a slowdown in job growth for June. This report could influence future interest rate policies. In addition, traders are likely observing the sidelines ahead of Federal Reserve Chair Jerome Powell's remarks on Tuesday and the Independence Day holiday on Thursday.

In other U.S. economic news, the Institute for Supply Management released a report indicating that manufacturing activity in the U.S. contracted at a modestly faster rate in June. Additionally, the Commerce Department reported a slight decline in construction spending in May.

Oil prices climbed notably on Monday, driven by expectations of higher demand, supply concerns, and production cuts by OPEC. West Texas Intermediate Crude oil futures increased by $1.84, or about 2.2 percent, closing at $83.38 per barrel.

Domestically, South Korea will report June consumer price figures later today. Forecasts suggest a month-on-month increase of 0.1 percent and an annual rise of 2.7 percent, both figures remaining unchanged from May's readings.