South Korea Bourse Expected To Run Out Of Steam

(RTTNews) - The South Korea stock market has climbed higher in four straight sessions, rising almost 65 points or 3 percent along the way. The KOSPI now rests just above the 2,265-point plateau although investors are likely to cash in on Friday.

The global forecast for the Asian markets is broadly negative following a record drop in U.S. GDP, denting hopes for a quick economic recovery from the Covid-19 pandemic. The European markets were down and the U.S. bourses were mixed and the Asian markets are predicted to open in the red.

The KOSPI finished slightly higher on Thursday as gains from the automobile producers were capped by weakness from the oil companies and mixed performances from the financials and chemical stocks.

For the day, the index added 3.85 points or 0.17 percent to finish at 2,267.01 after trading between 2,263.81 and 2,281.33. Volume was 703 million shares worth 13.3 trillion won. There were 427 decliners and 395 gainers.

Among the actives, Shinhan Financial shed 0.32 percent, while KB Financial lost 0.69 percent, Hana Financial collected 1.35 percent, LG Electronics rose 0.19 percent, SK Hynix spiked 2.52 percent, LG Display soared 1.99 percent, LG Chem advanced 0.57 percent, Lotte Chemical dropped 0.87 percent, S-Oil fell 0.32 percent, SK Innovation plunged 2.67 percent, POSCO skidded 1.24 percent, SK Telecom jumped 1.62 percent, KEPCO sank 0.78 percent, Hyundai Motors rallied 2.00 percent, Kia Motors accelerated 2.65 percent and Samsung Electronics was unchanged.
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