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South Korea Stock Market Tipped To Open Under Pressure

(RTTNews) - The South Korea stock market on Wednesday snapped the three-day winning streak in which it had climbed almost 80 points or 2.5 percent. The KOSPI now sits just beneath the 3,135-point plateau and it's looking at another soft start again on Thursday.

The global forecast for the Asian markets is negative, with more profit taking expected after recent gains. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The KOSPI finished modestly lower on Wednesday following losses from the automobile and chemical companies and technology stocks, while the financials were mixed.

For the day, the index dropped 29.52 points or 0.93 percent to finish at 3,133.73 after trading between 3,115.48 and 3,162.95. Volume was 1.8 billion shares worth 16.6 trillion won. There were 422 gainers and 417 decliners.

Among the actives, Shinhan Financial rose 0.15 percent, while KB Financial shed 0.55 percent, Hana Financial spiked 2.43 percent, Samsung Electronics tanked 2.00 percent, LG Electronics soared 2.03 percent, SK Hynix tumbled 1.89 percent, Samsung SDI rose 0.25 percent, LG Chem plunged 2.15 percent, Lotte Chemical plummeted 3.53 percent, S-Oil rallied 2.04 percent, SK Innovation surged 4.39 percent, POSCO fell 0.37 percent, SK Telecom advanced 0.80 percent, KEPCO climbed 1.06 percent, Hyundai Motor retreated 1.62 percent and Kia Motors tanked 2.92 percent.
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