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Renewed Consolidation Anticipated For South Korea Stock Market

(RTTNews) - The South Korea stock market on Thursday snapped the five-day losing streak in which it had tumbled almost 130 points or 4.4 percent. The KOSPI now rests just above the 2,860-point plateau although it figures to head south again on Friday.

The global forecast for the Asian markets is soft, with weakness expected from the technology stocks and oil companies. 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 modestly higher on Thursday as gains from technology, chemical and industrial companies were capped by weakness from the financials.

For the day, the index advanced 20.40 points or 0.72 percent to finish at 2,862.68 after trading between 2,830.97 and 2,862.70. Volume was 388 million shares worth 8.7 trillion won. There were 709 gainers and 174 decliners.

Among the actives, Shinhan Financial tumbled 1.77 percent, while KB Financial plummeted 3.88 percent, Hana Financial plunged 3.41 percent, Samsung Electronics rose 0.26 percent, LG Electronics rallied 2.19 percent, SK Hynix retreated 1.57 percent, Naver gained 0.75 percent, Samsung SDI soared 4.08 percent, LG Chem skyrocketed 6.58 percent, Lotte Chemical advanced 1.17 percent, S-Oil cratered 4.10 percent, SK Innovation climbed 1.53 percent, POSCO perked 0.53 percent, SK Telecom jumped 1.79 percent, KEPCO added 0.48 percent, Hyundai Motor accelerated 0.75 percent and Kia Motors was up 0.25 percent.
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