The South Korea stock market on Monday snapped the two-day winning streak in which it had advanced more than 30 points or 1.5 percent. The KOSPI now rests just above the 2,155-point plateau, and the market figures to hold steady in that neighborhood on Tuesday.
The global forecast for the Asian markets is murky amidst a lack of catalysts, with weakness from crude oil prices limiting any upside. The European and U.S. markets were mixed and flat and the Asian bourses figure to follow suit.
The KOSPI finished modestly lower on Monday following losses from the financial shares and the technology stocks.
For the day, the index dipped 7.57 points or 0.35 percent to finish at 2,157.01 after trading between 2,151.51 and 2,160.57. Volume was 261 million shares worth 4.01 trillion won. There were 551 decliners and 263 gainers.
Among the actives, Shinhan Financial skidded 1.51 percent, while Woori Bank fell 0.72 percent, Samsung Electronics shed 1.18 percent, LG Electronics lost 0.356 percent, SK hynix climbed 1.82 percent, Naver slipped 1.09 percent, Hyundai Motor spiked 3.3 percent and Kia Motors added 0.41 percent.
The lead from Wall Street provides little clarity as stocks showed a lack of direction on Monday, bouncing back and forth across the unchanged line before ending mixed.
The NASDAQ added 0.53 points or 0.1 percent to 5,901.53, while the Dow shed 8.76 points or 0.1 percent to 20,905.86 and the S&P dipped 4.78 points or 0.2 percent to 2,373.47.
The choppy trading came on a quiet day on the U.S. economic front. The economic calendar remains relatively light throughout the week, although speeches by a number of Federal Reserve officials may also attract attention.
Traders shrugged off disappointment with the G20 meeting, where finance ministers failed to agree on a commitment to keep global trade free and open in response to President Donald Trump's protectionist policies.
Crude oil futures edged lower Monday amid reports that OPEC may extend its supply quota experiment beyond this year. WTI crude oil was down 56 cents or 1.2 percent to $48.22/bbl.
by RTT Staff Writer
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