The Korea Composite Stock Price Index or Kospi is the benchmark equity index of South Korea. It is the index of all common stocks traded on the Stock Market Division — previously known as Korea Stock Exchange — of Korea Exchange.The index is calculated based on market capitalisation method. Kospi replaced Dow-style KCSPI (Korea Composite Stock Price Index) in 1983. The index was introduced in 1983 with a base value of 100. On July 24, 2007, it broke the 2,000 barrier for the first time. The index's Korean name was officially changed to Koseupi jisu in November 2005.
Korea, whose benchmark surged last year and is up 8 per cent in 2021, this week bowed to retail investor pressure and extended the ban on the key hedging tool, unsettling institutions.
Adding to broader uncertainty in markets was the latest twist in a regulatory saga over whether the New York Stock Exchange would delist three Chinese telecom giants on security grounds.
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MSCI’s broadest index of Asia-Pacific shares outside of Japan were barely changed following two straight days of gains.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 1 per cent to hit its highest since its launch in 1987 with markets across the region making milestone peaks.
Faster vaccine rollout, strong Q4 numbers from the low base of last year and a growth revival in urban India will all add to the value investing party.
Sensex plunges 750 points amid global selloff, bank stocks take a beating: Key factors hurting market
Concerns over rising bond yields resurfaced. Most Asian markets fell 1.5-3 per cent in morning trade and domestic indices were no exception.
The creep up in benchmark yields weighed on Asian stocks, as wary investors recall last week's sell-off in government bonds that caused yields to spike, spooking equity markets and causing shares to tumble.
Midcap and smallcap indices fare better than largecap peers, rising up to 0.9 per cent.
Asian shares were trading mostly mixed on Wednesday. Japan's Nikkei fell 0.18 per cent to 29,355.64.China's Shanghai Composite rose 0.42 per cent to 3,523.20.
Sentiment turned positive globally over the progress of the US stimulus package.
Futures and options (F&O) expiry induced some volatility but bulls were unperturbed by it.
The Dow and S&P 500 recouped early losses after Federal Reserve Chair Jerome Powell reiterated in testimony before the Senate Banking Committee that monetary policy would remain accommodative and would not change without advance warning.
Asian equities opened lower on Wednesday on concerns about rising interest rates and rich equity valuations and following a downdraft in US and European overnight trading.
Sharp corrections like this are normal and even desirable in a bull market, according to analysts.
The Australian S&P/ASX 200 fell 0.11% and South Korea's Kospi declined 0.87% in early trading. Hong Kong's Hang Seng index futures rose 0.54%. Japanese markets are closed for a public holiday on Tuesday.
Asian stocks dipped on Tuesday as rising US Treasury yields and inflation prospects led to a further rotation out of the big tech stocks responsible for a major Wall Street rally during the pandemic.
Asian markets were trading lower in Thursday's trade as lingering pandemic concerns pushed against stronger economic data, and with little firm direction from Wall Street.
The BSE Sensex rose 609.83 points, or 1.18 per cent , to close at 52,154.13 after touching a record high of 52,235.97. The NSE Nifty gained 151.40 points, or 1 per cent , to end at 15,314.70. The index had hit an all-time high of 15,340.15 earlier during the day.
Japan's Nikkei rose 1.25 per cent to 30,460.16. Hong Kong's Hang Seng advanced 1.64 per cent to 30,668.39. Korea's Kospi added 0.6 per cent to 3,165.06 . Financial markets in China and Taiwan are closed on Tuesday for public holidays.
Japan's Nikkei 225 rose 0.24 per cent, Korea's Kospi climbed 0.8 per cent, Hong Kong's Hang Seng edged 0.02 per cent higher while China's Shanghai Composite added 0.04 per cent in early trade.
A huge number of companies will report their financial results for the October-December period.
Market participants should focus solely on quality names as the indices have already run up quite a bit. One should remain invested in quality stocks and wait for a decent knee-jerk reaction to add fresh money.
A three-day rally in global stocks faded on Thursday as Asian shares retreated.
The S&P BSE Sensex index had lost over 3,500 points in the six sessions before the Budget.
Australia's S&P/ASX 200 benchmark was up 0.81% and South Korea's KOSPI up 0.79%, adding to a rally in the previous session. Japan's Nikkei futures rose 0.6% and Hong Kong's Hang Seng index futures eased 0.1%.
Asian markets opened higher on Tuesday as global markets faced another chaotic week, with retail investors expanding their duel with Wall Street into commodities and driving up the price of silver.
Asian shares rose on Monday, shrugging off a selloff in US stocks on Friday. Stocks jumped despite worries that problems with vaccine rollouts combined with new strains of COVID-19 will delay a global economic recovery.
Asian equities rose on Wednesday, bouncing back from a steep sell-off on Tuesday. Japan's Nikkei added 0.48 per cent to 28,683.63. Korea's Kospi climbed 1.01 per cent to 3,171.96. Hong Kong's Hang Seng added 0.6 per cent to 29,568.71. China's Shanghai Composite index rose 0.16 per cent to 3,575.25.
Foreign portfolio investors (FPIs) extended their selling to a second day, raising concerns that the strong bout of inflows that pushed the market to record highs could be over for the moment.
Asian shares gained despite rising Covid cases and doubts over the ability of vaccine makers to supply the promised doses on time soured risk appetite.
Stock indices fell almost 2.2 per cent in the last two sessions amid growing concerns that the market is overheated. Fund managers said continuous foreign portfolio investor (FPIs) flows in the past three months helped investors ignore steep valuations.
The IPOs of LIC and other big-ticket players are yet to materialize. However, it seems absolutely clear that the government is willing to sell on every rise.
Asian shares rose on Friday, brushing off a late Wall Street dip as expectations of large US stimulus under President-elect Joe Biden shored up sentiment while oil prices perked up on upbeat Chinese trade figures.
Foreign investors have continued to provide support to the market as they have been extremely bullish on India in recent months. But this has taken valuations to scary levels, which is reflected in India VIX, indicating nervousness.
Asia's open, however, was mixed with Japan's Nikkei 225 up 0.11 per cent, Australia's S&P/ASX 200 down 0.1 per cent and South Korea's KOSPI 0.64 per cent higher.
Asian stocks traded mostly higher on Wednesday, tracking modest Wall Street gains as prospects of an eventual victory against coronavirus shored up recovery hopes. Japan's Nikkei 225 rose 0.11 per cent while South Korea's Kospi gained 0.64 per cent higher. Hong Kong's Hang Seng Index edged up 0.12 per cent.
At 9.59 am, BSE flagship Sensex was down 106 points or 0.22 per cent to 49,163. NSE benchmark Nifty followed and slid 11 points or 0.08 per cent to 14,473.
Japan's Nikkei slipped 0.48 per cent, South Korea's KOSPI fell 0.91 per cent and Hong Kong's Hang Seng index futures lost 0.54 per cent.
Asian stocks were mostly lower on Tuesday, tracking Wall Street declines as political turmoil in Washington and rising coronavirus cases worldwide weighed on sentiment ahead of the start of the quarterly earnings season.
MSCI's broadest index of Asia-Pacific shares outside Japan was flat. Japan's Nikkei was closed for a holiday after closing at a 30-year high on Friday.
The 30-share pack Sensex advanced 689.19 points or 1.43 per cent to 48,782.51. The index saw the biggest streak of weekly gains since 2009. Its broader peer, NSE Nifty climbed 209.90 points or 1.48 per cent to 13,347.25.
Wall Street hit record highs on Thursday while bond prices fell as markets bet a new Democratic-controlled government would lead to heavy spending and borrowing to support the US economic recovery.
Asian stocks open higher on Friday, with Japan hitting a three-decade high as investors looked beyond rising coronavirus cases and political unrest in the United States and bet on an economic recovery later in the year.
“The US tech stocks are likely to be impacted since valuations are hard to justify. In our markets too valuations are getting stretched. Profit bookings are likely as reflected in the sell figures in the cash market from both FIIs & DIIs.”
U.S. Treasuries suffered their steepest selloff in months and the S&P 500 index made a record high after Democrat victories in two Georgia races handed them narrow control of the Senate and the power to pass their agenda.
IT stocks rallied ahead of December quarter earnings, while metals stocks received a thrust after producers said their December output was the highest in recent times.
Asian shares gained ahead of the Christmas break, as global investors cheered a potential Brexit deal and economic recovery prospects, largely ignoring US President Donald Trump's threat to veto a long-awaited COVID aid package.
The 30-share pack Sensex advanced 437.49 points, or 0.95 per cent, to 46,444.18. NSE flagship Nifty gained 134.80 points, or 1 per cent, to 13,601.10.
Asian stocks fell on Monday, as investor mood in the region shifted with uncertainty on US economic stimulus. Nikkei was the biggest loser, down over half a per cent while Kospi and Singapore also traded in the red, China and Indonesia were in the green.
Both indices ended at fresh record highs. For Nifty, this was the seventh straight weekly gain.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3% to touch an all-time high. Japan's Nikkei rose 0.2%, though both fell back to flat while investors waited for U.S. lawmakers to agree on stimulus.
A number of positive news on the vaccine front also boosted the morale of investors that took benchmark indices to fresh highs. However, cautiousness has also creeped in some quarters of the market.
The index, hovering near record highs, is up 3.3% so far in December and is on track for its best yearly performance since 2017 thanks to generous government and central bank stimulus around the world.
Global funds are buying shares in the nation’s tech-heavy stock market at the fastest pace in four years this quarter, helping to make the Kospi Asia’s best-performing major benchmark in 2020.
The 30-share pack Sensex ended above 46,000 for the first time, adding 494.99 points or 1.09 per cent.
MSCI's broadest index of Asia-Pacific shares outside Japan narrowed its losses from early trade, but was still down 0.02 per cent as anxiety over the coronavirus pandemic capped sentiment.
Talks of stimulus measures in the US also added to the momentum on Dalal Street
The news also diffused the nervousness on Dalal Street and the volatility index plunged sharply. However, some profit booking in IT and select auto names kept the gains in check. Investors will now keep an eye on RBI policy meeting outcomes scheduled on Friday.
Nifty50 tested the 13,000 level on Wednesday, before rebounding and closing in the black. The index formed a Dragonfly Doji pattern on the daily chart, suggesting a balance of power between the bulls and the bears.
Japan's benchmark Nikkei 225 was up less than 0.1% at 26,657.18.
Stocks in Asia swung from gains to losses in early trading as investors monitored the progress of coronavirus vaccines on the final day of a record month for global equities. Against a basket of currencies, the greenback slipped 0.1 per cent to 91.707, its lowest since April 2018.
The Dow appeared set to edge back from its record high on the open, with futures down 0.3%, while S&P 500 futures were 0.2% lower. In Europe, markets lost early gains after Asia largely closed lower.
Broader market indices saw buying outperforming their headline peers in morning trade.
The upbeat backdrop helped MSCI's broadest index of Asia-Pacific shares outside Japan advance 0.15%. Australia's S&P/ASX 200 was 1.1% stronger, touching its highest level in almost nine months, with energy stocks leading the pack. Japan's Nikkei jumped 2.48% while Seoul's Kospi was 0.74% higher.
"With the vaccine on its way and the likelihood that economic damage being done by the virus will lift, we'll still have in place substantial support from central banks and governments. And that is an economic sweet spot that should see a significant economic bounce," said Michael McCarthy, chief market strategist at CMC Markets in Sydney.
In the 50-share pack Nifty, IndusInd Bank was the biggest gainer, up 3.87 per cent. Divi’s Lab, Bajaj Finserv, NTPC, Bajaj Finance, Reliance Industries and Dr Reddy’s Labs were among other gainers.
Nifty50 on Friday formed a Hammer-like candle on the daily chart and a Spinning Top on the weekly chart. Analysts said the index traded largely in a range during the week, and Friday’s gains from day’s lows suggested a consolidation ahead.
Fatigue on technical charts and valuation concerns kept the upside capped after the relentless three-day gains on Dalal Street.
Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said the 12,850-12,900 range will now be the make-or-break area in the short term. “An inability to generate further strength could result in minor weakness from the high in the next 1-2 sessions. A decisive move above this hurdle can open the next upside target of 13,500 over the next couple of weeks," he said.
European officials warned against COVID-19 complacency and said measures to control a surge in infections must continue.
Chinese blue-chips led losses, falling 1.21%. Australian shares lost 0.47%, Seoul's Kospi was down 0.16% and the Hang Seng was 0.55% lower. Japan's Nikkei 225 fell 0.95%. Some investors saw a buying opportunity in the slump.
The Nifty’s journey to Rs 100 lakh crore since March has been led by heavyweights like Reliance Industries — which added Rs 8 lakh crore — as well as TCS, HDFC Bank and Infosys, which together contributed nearly Rs 9.8 lakh crore.
Joe Biden's victory in the US presidential election on Saturday added fuel to the stock market fire on Monday with the Nifty and the Sensex shattering old records and setting new ones. The announcement by the drug companies came after the Indian markets were closed for trading.
The bulls continued their march on Dalal Street and helped benchmark Nifty50 register positive close for the fifth session in a row on Friday. In the process, the index ended up forming a strong bullish candle with an intra-week range of over 700 points. Analysts said the index can now hit a new lifetime high over the next few sessions.
Bluechip indices gyrated in a wide range during the day, travelling both sides of the flatline. Thus, the volatility indicator, India VIX also gained, in line with expectations.
Volatility has heightened ahead of the US Presidential election outcome, scheduled on November 3. The September quarter earnings are also adding to the volatile moves in individual stock.
The sharp drop in largecap indices is coming after a multi-month rally. The volatility indicator has also surged lately to above 25-level, raising the risk component.
Broader market indices outperformed their headline peers in morning trade as Nifty Smallcap rose 0.83 per cent while Nifty Midcap added 0.85 per cent. Broadest index on NSE, Nifty 500 was up 0.50 per cent.
MSCI's broadest index of Asia-Pacific shares outside of Japan was last down 0.3%, on track to the end the week 1.3% lower after four straight weeks of gains.
Possible gains from better than expected Q2 earnings and impending foreign fund flows is being checked by uncertainty over stimulus and rising infections in western world.
Kotak Mahindra Bank soared about 12% on superb Q2 show, likely inclusion in MSCI index.
The mood on Dalal Street has been largely bullish for a while now and blue chip indices are stone’s throw from their record highs. However, risk of a correction remains, said analysts.
Global investor sentiment took a fresh hit over talks to boost the world's largest economy after U.S. President Donald Trump on Wednesday accused Democrats of being unwilling to craft an acceptable compromise on stimulus, following reports of progress earlier in the day.
The mood on Dalal Street has been largely bullish for a while now, mostly thanks to better than expected earnings from IT firms and recovery in economic conditions. In the last 15 sessions, bluechip indices have closed in the red for just one.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.26% for its second straight day of gains. The index has risen in eight of the last 10 sessions amid a rally in risk assets buoyed by hopes of a coronavirus vaccine and expectations of a so called "blue wave", which would see the Democrats claim victory in November's elections.
Nifty futures on the Singapore Exchange traded 66.5 points, or 0.56 per cent higher at 11,838.50, in signs that Dalal Street was headed for a positive start on Monday.
Nifty futures on the Singapore Exchange traded 9.5 points, or 0.08 per cent higher at 11,803.50, in signs that Dalal Street was headed for a flat start on Thursday.
Nifty futures on the Singapore Exchange traded 7 points, or 0.06 per cent higher at 11,682, in signs that Dalal Street was headed for a flat start on Wednesday.
S&P 500 futures traded steady early in the Asian session, after the best daily gain on the S&P 500 index in a month overnight. Oil held sharp overnight gains. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2% to a two-week high. Japan's Nikkei rose 0.4%. South Korea's Kospi rose 0.6% and futures point to a positive open in Hong Kong.
Nifty futures on the Singapore Exchange traded 32 points higher at 11,538, in signs that Dalal Street was headed for a positive start on Tuesday.
Nifty futures on the Singapore Exchange traded 6 points, or 0.05 per cent at 11,253, in signs that Dalal Street was headed for a flat start on Tuesday.
In the 30-share pack Sensex, Bajaj Finance was the biggest gainer, up 3.11 per cent at Rs 3,235.75. It was followed by ONGC, NTPC, Tata Steel, Axis Bank and Maruti Suzuki that gained in the range of 2-3 per cent.
"Clouds have started to gather over the developed world as political uncertainty increases in the U.S. and Europe grapples with a resurgence in COVID-19 cases," Kerry Craig, Global Market Strategist, J.P. Morgan Asset Management.
Nifty futures on the Singapore Exchange traded 59.50 points, or 0.54 per cent higher at 11,099.50, in signs that Dalal Street was headed for a positive start on Monday.
In the Sensex pack of stocks, 11 were in the green while 19 in the red.
India VIX, the measure of volatility in the market, advanced 5.45 per cent to 22.13.
India VIX, the measure of volatility in the market, fell further 4.29 per cent to 20.49.
MSCI's broadest index of Asia-Pacific shares outside Japan was steady after two days of declines, but the mood was hardly bullish. Japan's Nikkei returned from a two-day holiday to drop 0.6%. Markets in Shanghai and Hong Kong opened flat, the ASX 200 rose 1.6% and South Korea's Kospi fell 0.8% on a jump in coronavirus infections.
Nifty futures on the Singapore Exchange traded flat at 11,160, in signs that Dalal Street was headed for a muted start on Wednesday.