After a bright start on the back of positive cues from Wall Street, the South Korean stock market has shed some early gains on Thursday with a section of investors going in for some profit taking.
Technology and shipping stocks are trading with notable gains, while automobile and banking stocks are trading weak. The benchmark KOSPI index, which surged to 1,783.9 in early trades, is currently up 6.3 points or 0.36% at 1,771.
Among technology stocks, LG Display LCD is up 4.3%, LG Electronics is gaining about 1% and Hynix Semiconductor is up with a gain of 0.6%, while Samsung Electronics is trading marginally up.
In the shipping space, Hyundai Heavy Industries, Samsung Heavy Industries and STX Pan Ocean are up 0.4%-0.8%, while Daewoo Shipbuilding is gaining about 1.5%.
Automobile stocks Kia Motor, Hyundai Motor and Ssangyong Motor are trading lower by 0.3%-1%. Among bank stocks, Woori Finance, KB Financial and Shinhan Financial are down 0.3%-0.7%, while Korea Exchange Bank is up with a gain of 1.3%.
Oil stocks SK Holdings and S-Oil are up 1.2% and 1.6% respectively. KEPCO is gaining over 1%. Steel stocks Hyundai Steel and POSCO are trading modestly higher.
Airlines and telecommunications stocks are trading mixed.
Among other markets in the Asia-Pacific region, Australia, Shanghai, Hong Kong, Japan, New Zealand, Singapore and Taiwan are up with notable gains. Malaysia is up marginally, while Indonesia is trading slightly lower. Markets across the region ended with notable gains on Wednesday.
On Wall Street, stocks saw substantial gains on Wednesday, as data showing a pickup in manufacturing activity in both the U.S. and China recharged some hopes of a continued economic recovery. The rally was further fueled by a better than expected reading on resource-linked Australian GDP.
The major averages ended near their best levels of the day. The Dow shot up by 254.8 points or 2.5% to 10,269.5, the Nasdaq surged by 62.8 points or 3% to 2,176.8 and the S&P 500 advanced by 31 points or 3% to 1,080.3.
Major European markets ended sharply higher on Wednesday. The French CAC 40 index ended up 3.8%, while the German DAX index and the U.K.'s FTSE 100 index both jumped by 2.7%.
Crude oil prices sailed higher on Wednesday as improvement in the U.S. manufacturing industry eased some fears about the strength of the global recovery. Light, sweet crude for October delivery rose US$1.99 or 2.8% to close at US$73.91 a barrel on the New York Mercantile Exchange.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.