2024-01-17 00:13:54
(Seoul = Yonhap Infomax) Reporter Seo Young-tae = On the 17th, KOSPI started off weak amid disappointment that the U.S. Federal Reserve’s interest rate cut was far away.
According to Yonhap Infomax New Stock Market (screen number 3536), as of 9:05 am on this day, KOSPI was at 2,493.06, down 4.53 points (0.18%) from the previous trading day. KOSDAQ recorded 852.52, down 2.31 points (0.27%).
Last night in the New York Stock Exchange, all three major indices closed lower. The Dow fell 0.62%, the Nasdaq fell 0.19%, and the S&P 500 fell 0.37%.
A key figure at the Federal Reserve disappointed the market, which was hoping for an early rate cut.
In a speech at the Brokings Institute, Director Christopher Waller said, “It is time to start lowering the benchmark interest rate, but it must be done in an orderly and cautious manner.” He added, “Looking at past cases, the Federal Reserve tended to lower interest rates quickly and by large amounts, but this time, it is time to start lowering interest rates.” “There is no reason to rush it,” he said.
The market is also paying attention to the Chinese economic indicators that will be released in the morning.
China’s real gross domestic product (GDP) in the fourth quarter of last year was expected to grow by 5.3% compared to the same period last year. China’s quarterly growth rate last year was 4.5% in the first quarter, 6.3% in the second quarter, and 4.9% in the third quarter.
If China’s annual growth rate reaches 5.3%, it will exceed the government’s target of around 5%.
Among major stocks, Samsung Electronics (0.5%) and SK Hynix (1.5%) show an upward trend in the early part of the market. Hanmi Science, which recently soared due to management rights disputes, is falling by more than 7%.
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This article was published at 09:10 on the Infomax financial information terminal.
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