Technology stocks continued to sublimate Korean stocks

Technology stocks continued to sublimate Korean stocks

Green color covered Asia-Pacific stock market on March 12 after Wall Street peaked last night.

The Korean Kospi Index ended the trading day on March 12 with 3,054.39 points. Documentary photo: AFP

Japan’s Nikkei 225 index closed up 1.73% today, or 506.19 points, to 29,717.83 points, while the Topix index also gained 1.36% to 1,951.06 points.

In Korea, technology stocks today continue to be the main traction of the market. The Kospi ended the day with 3,054.39 points, up 1.35% as shares of Samsung Electronics inched up 0.98%, while shares of SK Hynix and LG Electronics jumped 2.19% and 3.39%. In another development, the Kosdaq trading floor also closed the transaction with 925.49 points, up 1.93%.

Mainland Chinese stock markets reversed this afternoon to escape losses, with the Shanghai Composite closing up 0.47% to 3,453.08 points and Shenzhen Component inching up 0.22% to 13,897.03 points.

Hong Kong stock exchange this afternoon against the regional market when the Hang Seng index slipped 1.62% at the end of trading hours.

Australia market today closed in the green with ASX 200 up 0.79% to 6,766.80 points when most of the “heavyweight” stocks were “green on the floor”. For example, the separate indices of energy and materials rose 1.47% and 1.62% respectively, while stocks of major oil and mineral groups in the country also recorded gains.

On the US stock market, the S&P 500 index last night closed up 1.04% to 3,939.34 points, surpassing the previous record set on February 16, while technology stocks also regained momentum. increase.

US President Joe Biden has just signed a law on the Covid-19 bailout package worth $ 1,900 billion. Accordingly, most Americans will receive checks up to 1,400 USD.

In another development, the European Central Bank (ECB) said that this agency is expected to increase the purchase of bonds significantly in the next quarter. Bond yields in the euro zone have risen higher since February, in line with the fluctuations in US Treasury yields.

Investors are concerned that an increase in bond yields could hurt the economic recovery in Europe as rising bond yields mean higher borrowing costs for struggling European countries. with the Covid-19 crisis.

On the currency markets, the greenback edged up 0.33%, with the US dollar index against other major currencies rising to 91,722, from 91,400 set earlier. Japanese Yen depreciated and changed hands 108.98 JPY for 1 USD, compared with 108.48 JPY / USD previously, while the Australian dollar slipped 0.44% to 1 AUD for 0.7753 USD.

Oil prices traded in Asia this afternoon decreased. US crude futures for delivery slid 0.7% to $ 65.56 / barrel, while Brent for futures fell 0.6% to $ 69.21 / barrel.

Some analysts believe that energy prices rose more than 2% last night at a time of weakening greenback and stimulus measures in the US have stimulated investment sentiment in commodity markets. “Crude oil prices prolong the recent rally as signs continue to suggest that fuel consumption recovery is consolidating,” ANZ Research said, but they warn that oil demand recovery is coming. The mine is completely unheard of.