US stock futures started the week with increases
US stock futures posted slight gains on Monday after ending last week at an all-time high. The S&P 500 gained less than 0.1%.
On the other hand, the energy company’s shares increase led to the surge in European equities.
Salman Baig, a multi-asset investment manager at Unigestion, believes that there are still more upside prospects in the stock market.
Even though the investors believe the Federal Reserve will reaffirm the pace of bond purchases, there is anxiety about the central bank’s plans to scale back monthly stimulus injection withdrawal. The Fed’s forecasts for interest rates, economic recovery, and inflation could move the markets. According to Jim Paulsen, a chief investment strategist at the Leuthold Group, any evidence suggesting monetary policy tightening is proceeding will likely bring volatility to the equity market.
The Kospi gains 0.09 ahead of the Fed’s monthly meeting
The Kospi, the main index of the Korean stock exchange, increased by 0.09% this Monday. Investors opted for moderation while waiting for the monthly meeting of the Fed.
The Kospi advanced by 2.81 points to 2,252 to reach a new all-time high.
Meanwhile, the Kosdaq technology stock index added 0.63% or 6.28 points and settled at 997.41 units.
The South Korean Market fluctuated moderately throughout the day. Investors chose to ensure profits and not embark on risky operations. They hope to see some clue about the becoming the largest economy in the world after the Federal Reserve meeting on Wednesday.
Despite the better performance of the technology sector thanks to favorable export data for the country due to the strong demand for semiconductors, Samsung Electronics dropped by 0.62%. SK. Hynix, another largest semiconductor in the country, declined by 0.78%.
Hyundai Motor, South Korea’s leading automaker, lost 0.21% on the same day it announced a temporary suspension of operations. LG Chem, the chemical company, declined by 2.71%.
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