Posts Tagged Kospi
Investing In South Korea: Why This Emerging Market Is A Perfect Contrarian Opportunity
Posted by Oksana Grebenjuk in Investing on Август 27th, 2010
The mere mention of this country’s name can cause the «Risk-o-Meter» to nudge higher. But it’s got nothing to do with the nation’s own economy or growth prospects.
Rather, the problem resides to its immediate north in the shape of the contentious Kim Jong-Il and the saber-rattling North Koreans. Their South Korean neighbors live with the constant threat of violence erupting at any moment – especially after North Korea allegedly torpedoed one of South Korea’s warships in March.
But the likelihood of a full-blown war is slim. Why? Because the United States still has some 28,500 troops in South Korea. And thanks to the long-standing U.S.-South Korea alliance, any North Korean attack would effectively be an attack upon the United States, too.
Even Kim Jong-Il knows that’s a bad idea and would end disastrously for his rogue nation.
And for investors, the overblown geopolitical climate is just one reason why I’m convinced that now is the perfect time to buy into this contrarian situation. But there are more… Read the rest of this entry »
Dollar Falls on Global Recovery
Posted by Oksana Grebenjuk in Currency, Favourites on Октябрь 26th, 2009
The dollar fell and metals rose, driving copper to a 13-month high, as South Korea’s fastest economic growth in seven years and profits that almost doubled at Electrolux AB signaled the global recovery is accelerating.
The dollar declined against 13 of the 16 most-traded currencies tracked by Bloomberg as of 11:20 a.m. in London. Copper climbed as much as 1.2 percent to $6,728 a metric ton in London, while zinc rallied for a ninth day. South Korea’s Kospi Index advanced 1 percent and futures on the Standard & Poor’s 500 Index added 0.2 percent.
South Korea’s gross domestic product increased 2.9 percent in the third quarter from the previous three months, beating the 1.9 percent median estimate of economists surveyed by Bloomberg. Copper rose to the highest level since September 2008 after refined imports by China expanded for the first time in three months. Electrolux, the world’s second-biggest household appliance maker, topped analysts’ profit estimates as sales of consumer products in North America climbed.
“Risk appetite is increasing and we can expect more earnings surprises,” said Beat Siegenthaler, chief emerging- market strategist at TD Securities Ltd. in London. “That’s bad for the dollar.”
The dollar fell as low as $1.5063 per euro, the weakest level since August 2008. The U.S. currency also slid to 91.78 yen from 92.06 yen, helping send IntercontinentalExchange Inc.’s Dollar Index 0.2 percent lower to 75.32. Read the rest of this entry »
US Stocks Slide As US-China Trade Relations Hit A Rough Patch
Posted by Oksana Grebenjuk in Fund Markets on Сентябрь 14th, 2009
U.S. stocks fell as trade relations between the U.S. and China turned rockier, with the energy and financial sectors under pressure.
Shortly after the opening bell, the Dow Jones Industrial Average was lower by about 62 points. The S&P 500 was down about 0.6%. The Nasdaq Composite Index slipped 0.4%.
Escalating trade tensions between the U.S. and China rattled overseas markets. The U.S. over the weekend imposed tariffs on Chinese-made tires, while China said it planned an antidumping investigation into U.S. sales of chicken and auto products.
In Asia, most markets lost ground. The Nikkei tumbled 2.3% on concerns that the strengthened yen could put a dent in exporters’ earnings. Hong Kong’s Hang Seng ended 1.1% lower at 20932.20, while Australia’s S&P/ASX 200 fell 1.4% and South Korea’s Kospi dropped 1%. Major benchmarks in Europe also fell. Read the rest of this entry »
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