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South Korea Bourse Tipped To Give Up Support At 2,100 Points

The South Korea stock market has finished lower in two of three trading days since the end of the four-day winning streak in which it had climbed almost 55 points or 2.7. The KOSPI now rests just beneath the 2,115-point plateau and it's likely to open under pressure again on Wednesday.

The global forecast for the Asian markets is negative on concerns over the health of the global economy and expected continued profit taking. The European and U.S. markets were down and the Asian markets figure to follow that lead.

The KOSPI finished modestly lower on Tuesday as losses from the technology stocks and automobile producers were limited by support from the financial sector.

For the day, the index sank 17.58 points or 0.82 percent to finish at 2,114.35 after trading between 2,105.45 and 2,128.94. Volume was 498.74 million shares worth 5.43 trillion won. There were 433 decliners and 393 gainers.

Among the actives, Samsung Electronics tumbled 2.54 percent, while LG Electronics retreated 1.61 percent, SK hynix skidded 2.13 percent, LG Display gave away 2.49 percent, Hyundai Motor lost 0.92 percent, Kia Motors added 0.16 percent, POSCO dropped 1.73 percent, Shinhan Financial jumped 1.20 percent, KB Financial climbed 1.59 percent, Woori Bank collected 0.96 percent, Hana Financial declined 1.35 percent, SK Telecom was down 1.42 percent and KEPCO soared 2.86 percent.

The lead from Wall Street is brutal as stocks saw a substantial move to the downside on Tuesday, more than offsetting Monday's strong gains.

The Dow shed 799.36 points or 3.10 percent to 25,027.07, while the NASDAQ plunged 283.09 points or 3.80 percent to 7,158.43 and the S&P fell 90.31 points or 3.24 percent to 2,700.006.

The sharp pullback came as the yield on two-year notes rose above the yield on five-year notes, which is seen as an indicator of an upcoming economic slowdown. Profit taking also was a factor following Monday's strong gains.

Uncertainty about whether the 90-day trade truce will give the U.S. and China enough time to reach a long-term trade agreement also inspired traders to cash in.

Crude oil prices moved higher on Tuesday amid speculation the OPEC members will agree on a production cut. Crude oil futures for January delivery ended up $0.30 or 0.6 percent at $53.25 a barrel.

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