FX.co ★ Rally May Stall For South Korea Stock Market

The South Korean stock market has experienced a steady increase over four consecutive sessions, climbing nearly 80 points or 3.1 percent. The KOSPI now stands just above the 2,590 mark, but investors might consider securing their gains on Monday.

The global outlook for Asian markets appears subdued, with expectations of profit-taking after significant gains at the end of last week. European markets saw declines, while U.S. markets were mixed and largely unchanged, suggesting a moderate outcome for Asian markets.

On Friday, the KOSPI saw modest gains, primarily driven by technology stocks and automobile manufacturers, whereas the financial and chemical sectors were weaker.

The index gained 12.57 points, or 0.49 percent, closing at 2,593.37, with a trading range between 2,591.40 and 2,619.55. The trading volume was 477.43 million shares, valued at 13.78 trillion won. In total, 562 stocks advanced, while 319 declined.

Regarding active stocks: Shinhan Financial dropped 2.46 percent, KB Financial rose 1.33 percent, Samsung Electronics fell 0.16 percent, Samsung SDI increased 1.21 percent, LG Electronics gained 0.55 percent, SK Hynix surged 2.81 percent, Naver lost 0.44 percent, LG Chem decreased 0.94 percent, Lotte Chemical climbed 1.14 percent, S-Oil fell 0.49 percent, SK Innovation declined 1.51 percent, POSCO edged down 0.13 percent, SK Telecom retreated 1.54 percent, KEPCO slipped 1.13 percent, Hyundai Mobis edged up 0.22 percent, Hyundai Motor accelerated 1.83 percent, Kia Motors soared 2.03 percent, and Hana Financial remained unchanged.

The guidance from Wall Street remains inconclusive. Major indices opened lower on Friday and largely remained so, although the Dow barely crossed into positive territory by the close.

The Dow increased by 38.16 points, or 0.09 percent, to reach a record 42,063.36. Meanwhile, the NASDAQ fell 65.68 points, or 0.36 percent, to close at 17,948.32, and the S&P 500 dropped 11.09 points, or 0.19 percent, to end at 5,702.55.

For the week, the Dow rose by 1.6 percent, the NASDAQ by 1.5 percent, and the S&P 500 by 1.4 percent.

The initial weakness on Wall Street was partly due to profit-taking, as traders capitalized on Thursday's rally following the Federal Reserve's decision to cut interest rates by 0.5 percentage points.

However, selling pressure diminished throughout the session, with traders hesitant to make significant moves as they ponder the next potential market catalyst following the Fed's rate cut.

Oil futures also saw a slight decline on Friday, primarily due to profit-taking after strong gains the previous week. Specifically, West Texas Intermediate Crude oil futures for October fell $0.03, settling at $71.92 per barrel.