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Win Streak Expected To End For South Korea Shares

(RTTNews) - The South Korea stock market has climbed higher in three straight sessions, gathering more than 55 points or 2.8 percent along the way. The KOSPI now rests just above the 1,980-point plateau although the rally may stall on Wednesday.

The global forecast for the Asian markets suggests profit taking after multiple sessions of gain, as well as ongoing concerns over the lingering effects of Covid-19. The European and U.S. markets were down and the Asian bourses are tipped to follow in similar fashion.

The KOSPI finished sharply higher on Tuesday following gains from the financial shares, technology stocks, industrials and oil companies.

For the day, the index accelerated 43.50 points or 2.25 percent to finish at 1,980.61 after trading between 1,968.59 and 1,983.77. Volume was 762 million shares worth 11.7 trillion won. There were 654 gainers and 203 decliners.

Among the actives, Shinhan Financial accelerated 5.18 percent, while KB Financial collected 3.06 percent, Hana Financial soared 4.82 percent, Samsung Electronics spiked 3.07 percent, LG Electronics was up 2.36 percent, SK Hynix jumped 1.97 percent, S-Oil gathered 8.38 percent, SK Innovation increased 6.92 percent, Lotte Chemical advanced 2.67 percent, LG Chem gained 0.85 percent, POSCO perked 5.33 percent, SK Telecom added 1.70 percent, KEPCO rose 1.16 percent, Hyundai Motors surged 7.83 percent and Kia Motors skyrocketed 8.01 percent.
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