Seven of Eight Global Markets Gain as South Korea Leads

On Friday, October 2, 7 of 8 tracked markets closed higher, moving in step with US shares. The broad international fund finished +0.9% as the S&P 500 fund posted +0.7%. South Korea +3.1% led the session, while China -1.7% lagged the rest of the world. The session's standout move was China, roughly twice the size of its usual day.

These figures come from US-listed exchange-traded funds, which show how each country looked to a US investor at the New York close.

South Korea's advance to South Korea +3.1% led all tracked markets, supported by investors bargain-hunting technology shares. International sentiment also found broader support after softer labor market data in the United States eased inflation and interest rate concerns. However, rate uncertainties and energy prices remained headwinds across Asian trading.

Other major developed markets also advanced. In Asia, the session brought Japan, its highest close in a year, with the fund ending Japan +1.6%, even after local Japanese equities saw profit taking following recent highs. In Tokyo, faster core inflation data contributed to expectations of further central bank tightening. In Europe, funds tracking the region finished higher, including Eurozone +1.3%, Germany +1.2%, and United Kingdom +0.6%, as lower bond yields and falling oil prices supported regional equities. Elsewhere, Emerging Markets +1.3% and India +0.3% closed with gains.

The sole decliner was China, whose fund posted China -1.7%. Domestic bourses in Shanghai and Shenzhen were closed for the weeklong National Day holiday.

Looking ahead, mainland Chinese exchanges will remain closed for the National Day break through October 7.