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Continued Support Predicted For South Korea Bourse

(RTTNews) - The South Korea stock market on Tuesday halted the two-day slide in which it had tumbled more than 135 points or 4.5 percent. The KOSPI now rests just above the 3,090-point plateau and it may extend its gains on Wednesday.

The global forecast for the Asian markets is upbeat on hopes for improved coronavirus vaccine rollout and additional stimulus. The European markets were down and the U.S. bourses were up and the Asian markets are tipped to follow the latter lead.

The KOSPI finished sharply higher on Tuesday following gains from the financial shares, technology stocks and automobile producers.

For the day, the index soared 78.73 points or 2.61 percent to finish at 3,092.66 after trading between 3,011.32 and 3,107.00. Volume was 1.3 billion shares worth 23.8 trillion won. There were 737 gainers and 124 decliners.

Among the actives, Shinhan Financial collected 1.38 percent, while KB Financial eased 0.11 percent, Hana Financial rose 0.26 percent, Samsung Electronics climbed 2.35 percent, LG Electronics rallied 3.02 percent, SK Hynix was up 0.38 percent, Samsung SDI accelerated 3.68 percent, LG Chem advanced 3.42 percent, Lotte Chemical advanced 1.21 percent, S-Oil jumped 1.80 percent, SK Innovation soared 6.93 percent, POSCO perked 1.88 percent, SK Telecom gained 0.41 percent, KEPCO increased 0.60 percent, Hyundai Motor surged 8.51 percent and Kia Motors skyrocketed 16.64 percent.
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