Renewed Consolidation Expected For South Korea Shares

(RTTNews) - The South Korea stock market has finished higher in two of three trading days since the end of the three-day losing streak in which it had tumbled almost 115 points or 3.8 percent. The KOSPI now rests just above the 3,040-point plateau although it figures to head south again on Wednesday.

The global forecast for the Asian markets is mixed to lower thanks to downward pressure on crude oil, while profit taking may also be on the docket. The European markets were up and the U.S. bourses were down and the Asian markets figure to follow the latter lead.

The KOSPI finished sharply higher on Monday following gains from the financial shares, technology stocks and industrials.

For the day, the index jumped 30.92 points or 1.03 percent to finish at 3,043.87 after trading between 3,020.74 and 3,096.50. Volume was 1.7 billion shares worth 18.5 trillion won. There were 481 gainers and 363 decliners.

Among the actives, Shinhan Financial collected 0.91 percent, while KB Financial jumped 1.60 percent, Hana Financial spiked 2.29 percent, Samsung Electronics climbed 1.33 percent, LG Electronics spiked 1.71 percent, SK Hynix rallied 2.12 percent, LG Chem skyrocketed 7.22 percent, Lotte Chemical and SK Innovation both gathered 1.73 percent, S-Oil shed 0.47 percent, POSCO perked 1.24 percent, KEPCO gained 0.88 percent, Hyundai Motor advanced 0.84 percent, Kia Motors accelerated 0.88 percent and SK Telecom was unchanged.
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