Latest Breaking News On - ஸ்க் அதாவது தொழில்நுட்பம் இணை - Page 1 : comparemela.com
South Korea s benchmark stock index closed at its highest-ever level on Monday, powered by economically sensitive stocks such as transportation, brokerage and retail companies seen to have underperformed the market amid an improved earnings outlook.
The weaker-than-expected US jobs report for April, released last Friday, lessened fears that the Federal Reserve might tighten its policy anytime soon to cool an overheating economy, thus pushing US stock markets to their highest levels.
Cyclical stocks will likely continue to lead the broader markets higher, with relatively undervalued construction companies, refineries and automakers taking the baton from steel and chemical companies in rotational buying, analysts said.
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SK Innovation s Ulsan refining complex in Korea
SK Innovation Co., South Korea s leading electric vehicle battery maker, is on course to raise more than 5 trillion won ($4.5 billion) this year from asset sales, which will likely accelerate its transformation into an eco-friendly company.
Following the $2 billion settlement under which it is paying 500 billion won each this year and next on top of royalty payment to LG, SK Innovation cashed in 2.45 trillion won worth of shares in two units SK IE Technology Co. and SK Lubricants Co. Additionally, it expects to receive 1.25 trillion won from the sale of its stakes in two gas fields in Peru to Argentina s oil company Pluspetrol this year.
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