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Continued Support Predicted For South Korea Shares

The South Korea stock market rebounded on Monday, one session after it had ended the four-day winning streak in which it had climbed almost 55 points or 2.7. The KOSPI now rests just above the 2,130-point plateau and it may add to its winnings on Tuesday.

The global forecast for the Asian markets is upbeat on easing trade concerns and a jump in crude oil prices. The European and U.S. markets were up and the Asian bourses figure to follow that lead.

The KOSPI finished sharply higher on Monday following gains from the technology stocks and industrial issues, while the financials came in mixed.

For the day, the index jumped 35.07 points or 1.67 percent to finish at 2,131.93 after trading between 2,113.60 and 2,136.64. Volume was 428.9 million shares worth 5.43 trillion won. There were 648 gainers and 186 decliners.

Among the actives, Shinhan Financial collected 1.09 percent, while Hana Financial skidded 1.20 percent, Samsung Electronics spiked 3.35 percent, LG Electronics advanced 2.62 percent, SK hynix climbed 1.29 percent, POSCO perked 4.85 percent, KEPCO added 0.17 percent, Hyundai Motor jumped 1.40 percent, Kia Motors dipped 0.33 percent, SK Telecom tumbled 2.59 percent, SK Innovation soared 3.56 percent, S-Oil surged 4.07 percent and KB Financial was unchanged.

The lead from Wall Street is solid as stocks opened sharply higher on Monday before giving back some ground - although the major averages still finished firmly positive.

The Dow added 287.97 points or 1.13 percent to 25,826.43, while the NASDAQ climbed 110.98 points or 1.51 percent to 7,441.51 and the S&P gained 30.20 points or 1.09 percent to 2,790.37.

The initial jump was a positive reaction to the meeting between President Donald Trump and Chinese President Xi Jinping over the weekend. At the meeting, they agreed to a 90-day truce in the escalating trade war between the world's two largest economies as they work to reach a long-term trade deal.

In economic news, the Institute for Supply Management noted an unexpected acceleration in the pace of growth in manufacturing activity in November. A separate report from the Commerce Department showed construction spending unexpectedly edged lower in October.

Crude oil prices rose sharply on Monday amid easing trade tensions after the U.S. and China agreed on a 90-day trade war truce. Crude oil futures for January ended up $2.02 or 4 percent at $52.95 a barrel.

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