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Tech Shares May Weigh On South Korea Bourse

(RTTNews) - The South Korea stock market has finished higher in two straight sessions, advancing more than 40 points or 1.9 percent along the way. The KOSPI now rests just beneath the 2,100-point plateau

The global forecast for the Asian markets is mixed and flat ahead of OPEC and G20 meetings later this week. The European markets were down and the U.S. bourses were up and the Asian markets figure to split the difference.

The KOSPI finished modestly higher on Tuesday as gains from the financials, technology stocks and automobile producers were capped by weakness from the heavy industrials.

For the day, the index climbed 16.40 points or 0.79 percent to finish at 2,099.42 after trading between 2,079.49 and 2,102.29. Volume was 235 million shares worth 4.41 trillion won. There were 501 gainers and 308 decliners.

Among the actives, Shinhan Financial shed 0.35 percent, while KB Financial collected 1.58 percent, Woori Bank added 0.63 percent, Hana Financial jumped 2.07 percent, Samsung Electronics climbed 1.06 percent, LG Electronics added 0.84 percent, SK hynix dipped 0.14 percent, KEPCO and POSCO both perked 1.88 percent, Hyundai Motor surged 6.20 percent, Kia Motors spiked 2.61 percent, S-Oil advanced 0.95 percent, SK Telecom lost 0.36 percent, Hyundai Heavy slid 0.38 percent and Samsung Heavy eased 0.13 percent.

The lead from Wall Street is cautiously optimistic as stocks shook off a lower open on Tuesday, with bargain hunters lifting the major averages back into the green.

The Dow added 108.49 points or 0.44 percent to end at 24,748.73, while the NASDAQ gained 0.85 points or 0.01 percent to 7,082.70 and the S&P was up 8.75 points or 0.33 percent to 2,682.20.

The initial pullback on Wall Street reflected renewed skepticism about a trade deal between the U.S. and China after President Donald Trump said it was "highly unlikely" he would delay an increase in tariffs on $200 billion in Chinese goods from 10 percent to 25 percent.

Trump also said the U.S. could slap 10 percent tariffs on iPhones and laptops imported from China, contributing to an early sell-off by shares of Apple (AAPL). Trump is due to meet with Chinese President Xi Jinping at a G20 summit in Argentina later this week.

In economic news, the Conference Board noted a bigger than expected fall in consumer confidence in November.

Crude oil prices were down slightly on Tuesday ahead of the forthcoming OPEC meet in Vienna. Crude oil futures for January ended down $0.07 or 0.1 percent at $51.56 a barrel, well off the session's low of $50.31.
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