South Korea Shares Tipped To Snap Losing Streak

(RTTNews) - The South Korea stock market has moved lower in back-to-back trading days, sliding more than 20 points or 1 percent along the way. The KOSPI remains just beneath the 2,055-point plateau although it figures to find traction on Wednesday.

The global forecast for the Asian markets is cautiously optimistic, fueled by a rebound in crude oil prices. The European markets were up and the U.S. bourses were mixed and little changed - and the Asian markets figure to split the difference.

The KOSPI finished barely lower on Tuesday following mixed performances from the financial shares, technology stocks and industrials.

For the day, the index eased 0.82 points or 0.04 percent to finish at 2.052.97 after trading between 2,047.17 and 2,060.94. Volume was 267.01 million shares worth 4.91 trillion won. There were 587 decliners and 254 gainers.

Among the actives, Shinhan Financial lost 0.63 percent, while KB Financial collected 0.88 percent, Woori Bank perked 0.32 percent, Hana Financial skidded 1.10 percent, Samsung Electronics added 0.12 percent, LG Electronics surged 2.14 percent, LG Display gathered 1.19 percent, SK hynix shed 0.92 percent, SK Telecom jumped 1.41 percent, KEPCO advanced 1.56 percent, LG Chem climbed 1.30 percent, POSCO slid 0.60 percent, Hyundai Motor gained 0.90 percent and Kia Motors spiked 1.29 percent.

The lead from Wall Street offers little guidance as stocks showed a lack of direction on Tuesday, bouncing back and forth across the unchanged line before finishing mixed.

The Dow shed 53.02 points or 0.22 percent to 24,370.24, while the NASDAQ added 11.31 points or 0.16 percent to 7,031.83 and the S&P 500 fell 0.94 points or 0.04 percent to 2,636.78.

Renewed optimism about U.S.-China trade talks contributed to the initial strength on Wall Street after a telephone call between top officials from the world's two largest economies.

But skepticism resurfaced following reports that the Trump administration is preparing a series of actions this week to call out China for allegedly stealing U.S. trade secrets and technologies.

A testy public exchange between Trump and top Democratic leaders over funding for his proposed border wall may have also raised concerns about a partial government shutdown.

Crude oil futures rebounded to close higher on Tuesday, aided by an unexpected supply cut from Libya. Crude oil futures for January ended up $0.65 or 1.3 percent at $51.65 a barrel on the New York Mercantile Exchange.
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