증시 대담
The markets have now closed here in Korea, and they'll open in a few hours in the U.S. to start the week.
So it's time for a look ahead on this Monday with Dr. Hwang Seiwoon, research fellow at the Korea Capital Market Institute, who joins us on the line.
Thanks for coming on, Dr. Hwang.
You're welcome.
Let's start with the suprise GDP numbers from the U.S. First quarter growth beating expectations at 3-point-2 percent, sending the S&P and the Nasdaq to new record highs. Are we in for another week of gains?
Surprisingly strong U.S. first-quarter economic growth boosted the U.S. stock markets to the record highs. In line with the strong GDP growth, the first quarter earning results which were better than market expectation so far are driving stock market index up even further. The Dow Jones Industrial Average rose 0.31 percent and the Nasdaq Composite added 0.34 percent as of close on Friday. The S&P 500 gained 0.47 percent to 2,939, its second record closing high for the week.
Gains in the global stock markets are more likely to be capped by caution over less upbeat aspects in the GDP report which points out some weakening ahead. The strong GDP data helped to ease fears of an imminent recession. However, investors needs to be aware that the recent gaining was driven by a smaller trade deficit and a large accumulation of unsold merchandise, as consumer and business spending slowed sharply.
Korean stocks have been a different story. There's been a plunge in earnings at major companies, coupled with rising oil prices. How are things looking here domestically?
South Korean shares edged up on Monday as foreigners bought local stocks ahead of the Federal Reserve's monetary policy decision this week. The benchmark KOSPI rose 0.75 percent, while the KOSDAQ added 1.05 percent.
Seoul market ended Monday on a high note following data showing U.S. GDP grew at a faster 3.2 percent annualized rate in the first quarter. However, worse-than-expected on average earnings result along with rising crude oil price may well limit the stock market rally based on the fragile economic fundamentals.
Tech and auto stocks led gains, with market bellwether Samsung Electronics rising 1.7 percent, No. 2 chipmaker SK hynix gaining 0.9 percent and top carmaker Hyundai Motor climbing 2.2 percent. Among losers, leading steelmaker POSCO fell 0.2 percent, national flag carrier Korean Air Lines declined 0.6 percent and No. 1 refiner SK Innovation shed 1.3 percent.
This week, the Fed Open Market Committee will meet. Earnings due from Apple and Google. What should we be watching there and elsewhere?
Investors are awaiting a meeting of the U.S. Federal Reserve, earning reports, and Chinese factory data for further clues on the stock market movement. The Fed meets Tuesday and Wednesday, in a week heavy with earnings news and some key economic reports. Federal Reserve Chairman Jerome Powell is expected to emphasize the Fed will continue to be patient and hold back from raising i
