FX.co ★ Win Streak May Continue For South Korea Shares

The South Korean stock market has seen three consecutive sessions of growth, climbing over 65 points or 2.6 percent, largely driven by the Chuseok Thanksgiving holiday. Currently, the KOSPI is positioned slightly above the 2,580 mark and is expected to continue this upward trend on Friday.

Globally, Asian markets are set for a positive opening, buoyed by optimism regarding economic outlooks and interest rates. Following robust performances in European and U.S. markets, Asian bourses are also expected to open higher, though some profit-taking may occur as the trading day progresses.

On Thursday, the KOSPI recorded a modest gain with industrial and financial sectors leading, despite weaknesses in the chemicals sector and mixed results from tech stocks. The KOSPI rose by 5.39 points or 0.21 percent, closing at 2,580.80 after ranging between 2,550.09 and 2,598.68. The day's trading saw 378.78 million shares exchanged, valued at 12.6 trillion won, with 497 gainers and 371 decliners.

Specific performances among major stocks included Shinhan Financial rising 1.79 percent, KB Financial increasing 0.86 percent, and Hana Financial up by 1.48 percent. However, Samsung Electronics fell by 2.02 percent, while Samsung SDI saw a 1.92 percent increase. LG Electronics rallied 4.89 percent, but SK Hynix dropped significantly by 6.14 percent. Other notable movements included Naver's 0.31 percent rise, LG Chem's 0.62 percent decline, and Lotte Chemical's 1.74 percent tumble. S-Oil spiked by 2.35 percent, SK Innovation accelerated by 1.81 percent, and POSCO rallied 1.49 percent. Hyundai Motor and Kia Motors surged by 3.80 percent and 2.99 percent respectively, while Hyundai Mobis and KEPCO experienced minor slips of 0.22 percent each.

The positive sentiment from Wall Street, where major indices opened higher and maintained their gains, adds to the optimism. The Dow Jones Industrial Average soared by 522.09 points or 1.26 percent to 42,025.19, the NASDAQ climbed 440.68 points or 2.51 percent to 18,013.98, and the S&P 500 advanced 95.38 points or 1.70 percent to close at 5,713.64.

The rally was fueled by the Federal Reserve's decision to cut interest rates by half a percentage point and signals of continued rate reductions, aimed at achieving a soft landing for the economy. Furthermore, the U.S. Labor Department's report on declining first-time unemployment claims, hitting a nearly four-month low, boosted economic confidence.

Oil prices also saw an uptick due to mounting tensions in the Middle East, raising concerns over potential supply disruptions. West Texas Intermediate Crude oil futures for October rose by $1.04 or 1.5 percent, settling at $71.55 per barrel.