Stocks fell nearly 2 percent Friday, snapping a three-day winning streak as foreigners and institutions dumped shares after recent rallies fueled by hopes for a possible winding down of U.S. rate hikes. The won inched down against the dollar.
Stocks opened lower Friday, as investors took a breather after recent rallies fueled by optimism that the U.S. Federal Reserve may slow the pace of interest rate hikes.
Stocks and the won recovered to levels not seen in months on Thursday after the Federal Reserve Chairman signaled a slowing in the pace of interest rate increases.
Korea’s stock and foreign exchange markets recovered to levels unseen in months following U.S. Federal Reserve Chairman Jerome Powell’s signal on slowing down the pace of upcoming interest rate increases.
Stocks gained for a second consecutive day Wednesday amid hope that China could ease Covid-19 restrictions, with eyes on U.S. Federal Reserve Chair Jerome Powell's upcoming speech on the economy. The local currency rose against the dollar.
Stocks snapped a two-session losing streak to close higher Tuesday, as worries about China's strict Covid-19 lockdown policy eased with growing expectations for an eventual reopening. The local currency rose sharply against the dollar.
Stocks turned a tad higher after a weak start Tuesday, amid concerns over China's strict Covid-19 lockdowns and hawkish remarks by U.S. Federal Reserve policymakers on rate policy outlooks.
Stocks closed more than 1 percent lower Monday, as investor sentiment remained wary amid the extended Covid-19 restrictions in China that have stoked concerns over global supply disruptions. The local currency fell sharply against the dollar.
Korean stocks started off lower Monday, as the continued Covid-19 lockdowns and unrest at an iPhone factory in China weighed on big tech stocks.
Stocks closed higher Thursday after the Bank of Korea delivered a modest 25-basis point rate hike, as the economy shows signs of losing momentum. The won sharply rose against the dollar.