The South Korean stock market has finished higher now in consecutive trading days, collecting more than 65 points or 3.2 percent along the way. The KOSPI settled just above the 2,100-point plateau, and now investors are expecting to see the market extend its gains when it kicks off trade on Monday.
The global forecast for the Asian markets is positive thanks to a rebound in the price of commodity stocks and generally good economic data out of the United States. Gold and oil stocks are expected to lead the way, while financials and steel companies also could provide support. The European and U.S. bourses finished firmly higher on Friday, and the Asian markets also are expected to track to the upside.
The KOSPI finished slightly higher on Friday, nudged into the green by gains from the automobile producers and technology stocks - although softness from the financials limited the upside.
For the day, the index added 8.33 points or 0.4 percent to finish at 2,100.24 after trading between 2,085.24 and 2,111.36.
Among the actives, Samsung Electronics added 1.4 percent, Hynix Semiconductor gained 0.6 percent and Hyundai Motor climbed 2 percent, while KB Financial Group lost 0.6 percent, Shinhan Financial Group eased 0.4 percent and Hana Financial Group shed 1 percent.
The lead from Wall Street is fairly upbeat as stocks moved mostly higher on Friday, with traders reacting positively to a mixed batch of economic data. The markets continued to recover from the sell-off earlier in the week, although trading activity was relatively subdued ahead of the holiday weekend. The strength in the markets was partly due to an upward move by resource stocks, which moved higher along with commodities prices.
On the economic front, the Commerce Department released a report before the start of trading showing continued increases in personal income and spending in the month of April. Personal income rose by 0.4 percent in April, matching the increases seen in each of the two previous months. Personal spending also rose by 0.4 percent in April following a 0.5 percent increase in March. However, when factoring in the recent increases in prices, disposable income was nearly unchanged and spending showed only a modest increase.
A separate report from Reuters and the University of Michigan showed a notable upward revision to their consumer sentiment index for May. The index was upwardly revised to a reading of 74.3 from the preliminary reading of 72.4.
Meanwhile, the National Association of Realtors released a report showing a much steeper than expected drop in pending home sales in April, with unusual weather and economic softness adding to ongoing problems in the housing market. NAR said its pending home sales index plunged by 11.6 percent in April following a downwardly revised 3.5 percent increase in March. Economists had expected pending sales to edge down by 1 percent compared to the 5.1 percent increase originally reported for the previous month.
In corporate news, shares of Marvell Technology (MRVL) surged up by 11.1 percent after the chip maker reported weaker than expected first quarter earnings but provided upbeat second quarter guidance. While Marvell reported first quarter earnings of $0.29 per share, a penny below analyst estimates, it forecast second quarter earnings of $0.37 per share on revenues of $870 million to $910 million compared to analyst estimates for earnings of $0.34 per share on revenues of $875.4 million.
The major averages all ended the day in positive territory but well off their best levels of the day. The Dow rose 38.82 points or 0.3 percent to 12,441.58, the NASDAQ climbed 13.94 points or 0.5 percent to 2,796.86 and the S&P 500 advanced 5.41 points or 0.4 percent to 1,331.10. While the major averages closed higher for the third straight day, they all moved lower for the week. The Dow posted a weekly loss of 0.6 percent, while the NASDAQ and the S&P 500 both fell by 0.2 percent.
On the corporate front, Samsung Electronics on Friday stated that it has decided to sell its solar cell business to affiliate Samsung SDI for 160.8 billion South Korean won or about $0.15 billion. Samsung SDI, which makes hybrid electric car batteries, is expected to acquire the business on July 1. Samsung Electronics said the sale will help it to manage resources more efficiently and focus more on its key businesses, which include semiconductors, LCDs, mobile phones, home appliances, personal computers and digital media products.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.