South Korea Outpaces Global Markets as Europe Slides

On Thursday, October 1, only 2 of the 8 tracked international markets finished in positive territory. The broad global fund stood at 0.0%, while the US fund finished at +0.2%. South Korea +1.8% led the board, while Eurozone -1.8% lagged furthest behind. The session's most unusual move belonged to Eurozone, roughly twice the size of its usual day.

These numbers reflect US-listed international exchange-traded funds at the New York close on Thursday. That means a fund tracking Japan reflects how Japanese equities were valued by US investors when New York trading ended for the day.

In Asia, South Korea +1.8% topped the board. The move was supported by record monthly export totals, driven by robust international shipments of semiconductors. Technology shares gained additional support from Micron Technology's upbeat forecast, lifting domestic chipmakers.

In contrast, European funds retreated. The board showed Eurozone -1.8%, while Germany -1.2% and United Kingdom -1.4% also declined. European equities faced pressure as global government bond yields reached multi-year highs, with European bank stocks leading the decline.

Across the rest of the board, Japan -0.1%, China -0.2%, and India -0.7% all closed lower on Thursday, while Emerging Markets 0.0% finished the session unchanged.

Upcoming economic releases will provide the next guideposts for regional markets. In Europe, market participants will watch the scheduled flash estimate for euro area seasonally adjusted inflation. In Asia, statistics officials are scheduled to release South Korea's consumer price index. Globally, investors will track the scheduled United States employment report.