The markets of Southeast Asia closed the first session of the week with the majority of increases. It followed a volatile week marked by the announcement of the United States that it will support the proposal to eliminate the patents of vaccines against covid-19 temporarily.
Stock exchanges in Vietnam and the Philippines led the gains, while those in Singapore and Malaysia closed lower.
In Singapore, the city-state stock market dropped by 17.85 points or 0.56%. The Straits Times composite indicator remained at 3,182.41 units.
In Malaysia, the Kuala Lumpur Stock Exchange yielded 3.53 points, 0.22%, and the selective KLCI ended at 1,583.92 units.
In Indonesia, the Jakarta stock advanced by 47.48 integers, 0.80%, and the JCI index ended with 5,975.79 units.
In Thailand, the Bangkok stock market advanced 3.12 points or 0.20%, and the SET index was left with 1,588.15 units.
In the Philippines, the Manila Stock Exchange rose by 58.70 integers, 0.94%, and the PSEi composite index ended at 6,317.41 points.
In Vietnam, the VN Index of the Ho Chi Minh stock closed at 1,259.58 units after gaining 17.77 integers or 0.94%.
The Seoul Stock Exchange closes with a new all-time high
The Seoul Stock Exchange closed this Monday. The Jospi, its main indicator, rose by 1.63%. It achieved a new record close thanks to the employment data in the United States, which eased fears of a change in the economic cycle.
The South Korean selective gained 52.1 points today to stand at 3,249.3 units. Meanwhile, the Kosdaq technology stock index advanced by 1.48%, or 14.5 points, to close at 992.8 units.
Foreign traders broke a streak of eight consecutive days selling assets, and institutional traders were net buyers today.
Despite the overheating of the South Korean stock market in recent weeks, the Kospi was always positive. The employment data in April in the US expelled the possibility of a change in the cycle and monetary policy by the Federal Reserve.
Shares of Samsung Electronics, the largest-cap token on the Seoul Stock Exchange, hiked by 1.59%. At the same time, the world’s second-largest chipmaker, SK Hynix, gained 0.39%.
In turn, the operator of the largest South Korean internet portal, Naver, climbed by 0.28%. Kakao, the operator of the country’s main instant messaging application, expanded by 1.31%.
Biopharmaceutical Samsung Biologics added 1.49%, and its competitor Celltrion gained 3.19%.
In turn, the primary national car manufacturer, Hyundai Motor, increased its value by 2.46%.