Win Streak May End For South Korea Stock Market

(RTTNews) - Ahead of the long Labor Day weekend, the South Korea stock market had moved higher in three straight sessions, advancing almost 60 points or 3.1 percent in that span. The KOSPI now rests just beneath the 1,950-point plateau although it may spin its wheels on Monday.

The global forecast for the Asian markets is soft, with poor earnings news likely to provide an excuse for profit taking. The European and U.S. markets were down and the Asian bourses are expected to open in similar fashion.

The KOSPI finished modestly higher on Wednesday following gains from the financial shares, technology stocks and industrials.

For the day, the index added 13.47 points or 0.70 percent to finish at 1,947.56 after trading between 1,934.31 and 1,957.51. Volume was 1.97 billion shares worth 10.4 trillion won. There were 570 gainers and 272 decliners.

Among the actives, Shinhan Financial climbed 1.50 percent, while KB Financial jumped 1.76 percent, Hana Financial collected 0.91 percent, Samsung Electronics eased 0.20 percent, LG Electronics spiked 2.43 percent, Samsung SDI accelerated 2.33 percent, SK Hynix added 0.36 percent, Lotte Chemical dropped 2.93 percent, S-Oil gathered 1.89 percent, SK Innovation increased 1.87 percent, POSCO perked 3.94 percent, SK Telecom sank 0.70 percent, KEPCO rose 0.21 percent, Hyundai Motors gained 0.43 percent and Kia Motors was up 1.37 percent.
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