Profit Taking Among Techs May Weigh On KOSPI

(RTTNews) - The South Korean stock market has tracked higher in back-to-back sessions, advancing more than 65 points or 2.1 percent along the way. The KOSPI now rests just above the 3,010-point plateau although investors may cash in on Tuesday.

The global forecast for the Asian markets is mixed to lower, with technology stocks expected to weigh - although support from crude oil prices should limit the downside. The European and U.S. markets were mixed and the Asian bourses figure to follow suit.

The KOSPI finished sharply higher on Monday following gains from the technology stocks and automobile producers.

For the day, the index spiked 42.23 points or 1.42 percent to finish at 3,013.25 after trading between 2,980.73 and 3,018.01. Volume was 524 million shares worth 12.8 trillion won. There were 490 gainers and 372 decliners.

Among the actives, KB Financial shed 0.53 percent, while Hana Financial fell 0.24 percent, Samsung Electronics surged 5.20 percent, LG Electronics improved 0.37 percent, SK Hynix skyrocketed 7.17 percent, Naver climbed 1.49 percent, LG Chem advanced 0.92 percent, Lotte Chemical jumped 1.43 percent, S-Oil tanked 2.03 percent, SK Innovation gathered 1.39 percent, POSCO perked 1.08 percent, Hyundai Mobis rallied 4.20 percent, Hyundai Motor spiked 4.30 percent, Kia Motors accelerated 2.27 percent and Shinhan Financial, SK Telecom and KEPCO were unchanged.
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