South Korea Stock Due For Profit Taking

(RTTNews) - The South Korea stock market has climbed higher in five straight sessions, gathering more than 100 points or 4.5 percent along the way. The KOSPI now rests just above the 2,350-point plateau although investors may cash in on Monday.

The global forecast for the Asian markets remains mired in uncertainty, balancing better than expected economic data, tumbling crude oil prices and continued uncertainty over stimulus. The European and U.S. markets were slightly higher and the Asian markets now look to open roughly flat.

The KOSPI finished modestly higher on Friday as gains from the oil companies and automobile producers were limited by weakness from the financial sector and technology stocks.

For the day, the index collected 9.06 points or 0.39 percent to finish at 2,351.67 after trading between 2,333.62 and 2,362.24. Volume was 802 million shares worth 17.3 trillion won. There were 462 decliners and 382 gainers.

Among the actives, Shinhan Financial tumbled 1.63 percent, while KB Financial skidded 1.09 percent, Hana Financial dipped 0.17 percent, Samsung Electronics dropped 0.86 percent, SK Hynix shed 0.62 percent, LG Chem surged 9.71 percent, Lotte Chemical sank 1.06 percent, S-Oil advanced 0.81 percent, SK Innovation skyrocketed 12.54 percent, POSCO tanked 1.99 percent, SK Telecom soared 3.85 percent, KEPCO climbed 1.29 percent, Hyundai Motors accelerated 1.73 percent, Kia Motors rose 0.24 percent and LG Electronics was unchanged.
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