[Good Morning Stock Market] Will Optimism for the US Year-End Shopping Season Continue?

A promotional banner is hung on the streets of Myeongdong, Seoul, on the 31st, one day before the start of the Korea Sale Festa, known as the "Korean Black Friday." The Korea Sale Festa, the country's largest shopping event week, will be held for fifteen days from the 1st to the 15th of next month, with large and small retail companies, traditional markets, and small business owners nationwide holding discount events both online and offline. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Junho Hwang] As the U.S. stock market closed higher amid growing optimism for the year-end shopping season, expectations also increased in South Korea's stock market on the 23rd.

The previous day, the U.S. stock market closed higher as retailers issued positive forecasts for the year-end shopping season, easing concerns about an economic slowdown and attracting buying interest. In particular, semiconductor, retail, and energy stocks rose, with most sectors showing solid performance. The Dow closed up 1.18%, the Nasdaq up 1.36%, the S&P 500 up 1.36%, and the Russell 2000 up 1.16%.

Han Ji-young, a researcher at Kiwoom Securities, stated, "Despite caution from the November U.S. Federal Open Market Committee (FOMC) minutes, technical buying is expected to flow in. Supported by positive news from Dell in the U.S. (6.8%) and the rebound effect of the Philadelphia Semiconductor Index (3.0%), we anticipate a rising trend centered on large-cap stocks in South Korea as well."

Seo Sang-young, a researcher at Mirae Asset Securities, said, "The U.S. stock market's strength, driven by solid retail sector earnings and growing optimism for the year-end shopping season, is expected to have a positive impact on the Korean stock market."

Meanwhile, after the market closed the previous day, the Chinese government announced policies related to COVID-19 lockdowns. Unlike before, the announcement included measures to minimize lockdown areas and shorten durations, which eased concerns from China and led to a stronger offshore yuan. This development is also expected to positively influence the stock market today.

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