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South Korea’s stock market experienced significant gains after the country re-imposed a ban on short selling. The ban will be in effect until the end of June 2024. This move led to a surge in South Korea’s Kospi and Kosdaq indexes, marking their best session since late March 2020.

A soft U.S. jobs report, with nonfarm payrolls increasing by 150,000 in October, lower than expected, eased concerns about the Federal Reserve continuing to raise interest rates. This had a positive impact on many Asia-Pacific markets.

Japan’s business activity expanded in October, but at a slower pace compared to earlier in the year, according to a private survey. South Korea’s Kospi jumped 5.66% and the Kosdaq soared 7.34%. Japan’s Nikkei 225 gained 2.37%, and the Topix hit its highest level in over a month. Hong Kong’s Hang Seng index rose by 1.77%.

Mainland China’s CSI 300 index increased by 1.35%. In Australia, the S&P/ASX 200 closed 0.28% higher.


On Monday, the U.S. stock market showed little change, struggling to maintain the momentum from the strong rally of the previous week. Key points from the market included:

The S&P 500 and Nasdaq Composite each edged up by about 0.1%, while the Dow Jones Industrial Average added 12 points. Market observers noted that the current situation is characterized by a pause as the market digests the previous week’s robust rally. It’s waiting for the next bullish catalyst, which could come from the Federal Reserve’s actions, particularly from Fed Chair Jerome Powell, or from upcoming earnings reports.

Nvidia saw a modest increase of 0.6%, driven by optimism from Bank of America ahead of its earnings report. Bumble shares experienced a nearly 6% decline after announcing that its CEO would step down in January. SolarEdge Technologies shares tumbled by 7% following a downgrade from Wells Fargo.

This day reflected a moment of pause and consolidation in the market as investors assessed upcoming developments and earnings reports.


On Monday, the following market movements were observed. Gold prices eased as investors cautiously turned to riskier assets and positioned themselves for insight on U.S. rate cuts from various Federal Reserve speakers scheduled for the week, including Jerome Powell. Spot gold fell by 0.6% to reach $1,986.4 per ounce after briefly surpassing the $2,000 level on Friday. U.S. gold futures also declined by 0.4%, closing at $1,990.40.

Oil prices edged up following reaffirmations from top oil exporters Saudi Arabia and Russia that they would continue with voluntary oil supply cuts until the end of the year. Brent crude futures increased by 0.77%, rising 65 cents to reach $85.54 a barrel. U.S. West Texas Intermediate crude was up by 0.96%, gaining 77 cents to close at $81.28 per barrel.

These market movements reflected investors’ cautious approach and their focus on developments related to both precious metals and oil.

The above analysis is only for the views of market researchers and is for reference only and is not regarded as a specific investment suggestion.

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