[Good Morning Stock Market] US Stock Market Closes Higher... Domestic Market Also Expected to Rise

On the 26th, the KOSPI opened at 3,151.30, up 4.49 points (0.14%) from the previous trading day, at the Hana Bank dealing room in Jung-gu, Seoul. On the same day, the won-dollar exchange rate started at 1,165.0 won, down 3.1 won from the previous trading day. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Junho Hwang] With the U.S. stock market closing higher, there are expectations that South Korea's stock market will also start higher on the 3rd.

On the 2nd (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 35,443.82, up 131.29 points (0.37%) from the previous session. The S&P 500 index rose 12.86 points (0.28%) to 4,536.95, and the tech-heavy Nasdaq index ended trading at 15,331.18, up 21.80 points (0.14%). Both the S&P 500 and Nasdaq indices set new records again after two days.

The strong U.S. employment data bolstered the economic recovery, lifting the stock market. The U.S. Department of Labor announced that the number of initial jobless claims for the week ending August 28 was 340,000, a decrease of 14,000 from the previous week on a seasonally adjusted basis. This slightly missed the expert forecast of 345,000 and marked the lowest level since March 14 of last year (256,000).

On the 3rd, the nonfarm payroll employment data for August will be released. If the figures are announced within expectations, it is expected to have a positive effect on the stock market.

Han Ji-young, a researcher at Kiwoom Securities, said, "Despite the strong U.S. stock market in the previous session and the expected decline in the won/dollar exchange rate confirmed through offshore markets, the uncertainty over the U.S. employment data released after the market close is expected to expand the cautious sentiment among market participants during the session. Since risk appetite still remains in the domestic stock market, rather than all sectors entering a cautious phase, it is judged that differentiated stock price movements among sectors will be observed."

In the U.S. stock market, the energy sector led gains due to rising international oil prices. Also, news emerged during the session that Apple is in talks with Korean companies for mass production of the Apple Car, attracting market attention.

Seo Sang-young, a researcher at Mirae Asset Securities, analyzed, "The news of meetings between Apple and SK Group, LG Electronics, which was also reported last August, was again conveyed during the session today, suggesting a high possibility of changes in related stock groups."

Researcher Seo added, "The MSCI Korea Index ETF fell 1.17%, the MSCI Emerging Markets Index ETF dropped 0.45%, and the 1-month NDF dollar/won exchange rate was 1,158.24 won. Reflecting this, it is expected that the KOSPI will start up around 0.3%."

This content was produced with the assistance of AI translation services.