Sullivan: Wall Street admits it doesn't know where oil is headed. There's one stock they do agree on
JPMorgan’s commodity team admitted what many are thinking on the Iran situation and oil: We just don't know.
South Korean stocks rose nearly 2% on Tuesday, mirroring Wall Street's rally as the S&P 500 and Nasdaq 100 recorded their biggest gains since early August. The South Korean won strengthened by 1% against the dollar, and the benchmark bond yield declined. The KOSPI index climbed 135.91 points, or 1.94%, to 7,143.63 as of 00:59 GMT.
Notable gains were seen in chipmaker Samsung Electronics, which rose 2.28%, and SK Hynix, which increased 2.94%. Other notable movers included LG Energy Solution, which added 0.43%, and automakers Hyundai Motor and Kia Corp, which climbed 2.30% and 0.92%, respectively. Among the 906 traded issues, 458 rose while 381 fell. Foreign investors netted 162.8 billion won worth of shares.
The won closed at 1,365.7 per dollar, up 0.71% from its previous close of 1,375.4. The KOSPI has risen 69.51% this year, while the won has strengthened 5.4% against the dollar. In money and debt markets, December futures on three-year treasury bonds rose 0.04 point to 102.26, and the three-year bond yield fell 1.1 basis points to 4.044%, while the 10-year yield declined 0.8 basis points to 4.438%.
Written by urgent.news from Business Recorder's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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