South Korea Stock Market Overdue For Consolidation

(RTTNews) - The South Korea stock market has moved higher in nine straight sessions, gathering almost 190 points or 8.2 percent along the way. The KOSPI now rests just above the 2,435-point plateau although investors may finally cash in on Friday.

The global forecast for the Asian markets suggests mild consolidation on concerns over coronavirus stimulus and falling oil prices. The European markets were down and the U.S. bourses were mixed and the Asian markets also figure to open in the red.

The KOSPI finished modestly higher on Thursday following gains from the financials were capped by weakness from the technology stocks and oil and chemical companies.

For the day, the index added 5.18 points or 0.21 percent to finish at 2,437.53 after trading between 2,412.49 and 2,458.17. Volume was 892 million shares worth 18 trillion won. There were 481 gainers and 359 decliners.

Among the actives, KB Financial spiked 2.85 percent, while Hana Financial collected 0.16 percent, Samsung Electronics shed 0.51 percent, LG Electronics sank 1.60 percent, SK Hynix fell 0.37 percent, LG Display advanced 0.76 percent, LG Chem lost 0.54 percent, Lotte Chemical gained 0.79 percent, S-Oil dropped 1.09 percent, SK Innovation fell 0.27 percent, POSCO skidded 1.20 percent, SK Telecom rose 0.21 percent, KEPCO soared 4.11 percent, Hyundai Motors skidded 1.16 percent, Kia Motors dropped 0.77 percent and Shinhan Financial was unchanged.
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