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Bargain Hunting May Boost South Korea Stock Market

(RTTNews) - The South Korean stock market has finished lower in three straight sessions, sinking more than 50 points or 1.6 percent along the way. The KOSPI now rests just shy of the 2,950-point plateau although it's due for support on Friday.

The global forecast for the Asian markets is mixed to higher, with support expected from oil and technology companies. The European markets were down and the U.S. bourses were mixed and the Asian markets are tipped to follow the latter lead.

The KOSPI finished modestly lower on Thursday following losses from the financial shares, automobile producers, technology stocks and oil companies.

For the day, the index lost 15.04 points or 0.51 percent to finish at 2,947.38 after trading between 2,937.53 and 2,964.48. Volume was 533 million shares worth 9.9 trillion won. There were 608 decliners and 256 gainers.

Among the actives, Shinhan Financial sank 0.80 percent, while KB Financial dipped 0.18 percent, Hana Financial retreated 1.29 percent, Samsung Electronics shed 0.71 percent, LG Electronics slid 0.41 percent, SK Hynix fell 0.45 percent, Naver jumped 1.50 percent, LG Chem advanced 0.91 percent, Lotte Chemical surrendered 0.95 percent, S-Oil tanked 2.21 percent, SK Innovation tumbled 1.80 percent, POSCO declined 0.72 percent, KEPCO lost 0.45 percent, Hyundai Motor dropped 0.97 percent, Kia Motors skidded 1.07 percent and SK Telecom was unchanged.
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