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South Korea Shares Tipped To Open In The Red

The South Korea stock market has fallen lower in three straight sessions, retreating almost 35 points or 1.6 percent along the way. The KOSPI now rests just above the 2,280-point plateau and it's expected to open under pressure again on Monday.

The global forecast for the Asian markets is soft on ongoing trade war concerns and a drop in crude oil prices. The European markets were mixed and the U.S. bourses were down - and the Asian markets figure to split the difference.

The KOSPI finished modestly lower on Friday as losses from the technology stocks were mitigated by support from the financials and engineering companies.

For the day, the index sank 6.03 points or 0.26 percent to finish at 2,281.58 after trading between 2,264.90 and 2,286.82. Volume was 351.6 million shares worth 6.09 trillion won. There were 476 gainers and 341 decliners.

Among the actives, Samsung Electronics skidded 2.60 percent, while SK hynix tumbled 3.68 percent, Shinhan Financial added 0.12 percent, KB Financial collected 0.40 percent, Woori Bank jumped 1.59 percent, Hyundai Motor shed 0.75 percent, Kia Motors jumped 1.78 percent, SK Telecom advanced 0.76 percent, POSCO eased 0.16 percent, Hyundai Steel spiked 2.65 percent, KEPCO gained 0.17 percent, Hyundai Engineering surged 4.60 percent, GS Engineering soared 3.89 percent and Hana Financial was unchanged.

The lead from Wall Street is negative as stocks fluctuated on Friday before ending modestly lower. With the drop, the NASDAQ and the S&P extended recent losses.

The Dow fell 79.33 points or 0.31 percent to 25,916.54, the NASDAQ dipped 20.18 points or 0.25 percent to 7,902.54 and the S&P 500 slipped 6.37 points or 0.22 percent to 2,871.68. For the week, the NASDAQ plunged 2.6 percent, the S&P fell 1 percent and the Dow lost 0.2 percent.

The lower close came amid ongoing trade concerns after President Donald Trump suggested he may impose tariffs on another $267 billion worth of Chinese goods. China's Commerce Ministry has said it will roll out retaliatory measures if the U.S. imposes any new tariffs.

In economic news, the Labor Department noted stronger than expected job growth in August. The report also said the annual rate of average hourly employee earnings growth accelerated. The data painted a positive picture of the economy but reinforced expectations the Federal Reserve will raise interest rates later this month.

Crude oil prices eased Friday, as concerns about a drop in demand due to trade war tensions slightly outweighed data showing a fall in stockpiles. Crude oil futures for October delivery settled at $67.75 a barrel, down 2 cents. For the week, crude oil future lost 2.9 percent.

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