KOSPI: Resistance Expected At 2,000 Points

(RTTNews) - The South Korea stock market has climbed higher in five straight sessions, collecting almost 75 points or 3.7 percent along the way. The KOSPI now rests just beneath the 2,000-point plateau although it figures to run out of steam on Friday.

The global forecast for the Asian markets is soft, with profit taking expected following recent gains. The European and U.S. markets were down and the Asian bourses figure to open in similar fashion.

The KOSPI finished modestly higher on Thursday following gains from the oil companies, weakness from the financials and a mixed picture from the chemical and industrial stocks.

For the day, the index rose 8.67 points or 0.44 percent to finish at 1,998.31 after trading between 1,993.00 and 2,004.95. Volume was 588 million shares worth 8.5 trillion won. There were 463 gainers and 363 decliners.

Among the actives, Shinhan Financial skidded 1.34 percent, while KB Financial eased 0.16 percent, Hana Financial lost 0.58 percent, Samsung Electronics eased 0.10 percent, LG Electronics retreated 1.38 percent, SK Hynix dropped 0.83 percent, S-Oil gained 0.14 percent, SK Innovation spiked 2.90 percent, LG Chem soared 4.14 percent, Lotte Chemical sank 1.31 percent, POSCO perked 1.43 percent, SK Telecom added 0.71 percent, KEPCO rose 0.23 percent, Hyundai Motors dipped 0.10 percent and Kia Motors shed 0.81 percent.
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