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Renewed Consolidation Called For South Korea Shares

(RTTNews) - The South Korea stock market on Friday ended the two-day slide in which it had fallen almost 30 points or 1.5 percent. The KOSPI remains just above the 2,175-point plateau although it may head south again on Monday.

The global forecast for the Asian markets is negative thanks to geopolitical concerns in the Middle East - although surging oil prices will offer support. The European markets were mixed on Friday and the U.S. bourses were down and the Asian markets are tipped to follow the latter lead.

The KOSPI finished barely higher on Friday as gains from the financials and oil companies were offset by weakness from the industrials.

For the day, the index added 1.29 points or 0.06 percent to finish at 2,176.46 after trading between 2,165.39 and 2,203.38. Volume was 622 million shares worth 5.6 trillion won. There were 422 decliners and 391 gainers.

Among the actives, SK Innovation spiked 2.05 percent, while S-Oil jumped 1.74 percent, Shinhan Financial collected 0.35 percent, KB Financial climbed 1.29 percent, Hana Financial increased 0.70 percent, Samsung Electronics added 0.54 percent, LG Electronics dipped 0.35 percent, LG Chem was down 0.96 percent, SK Hynix eased 0.21 percent, POSCO perked 0.42 percent, KEPCO sank 0.88 percent, Hyundai Motors skidded 1.69 percent, Kia Motors dropped 1.18 percent and SK Telecom was unchanged.
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