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South Korea Bourse May Extend Losing Streak

The South Korea stock market has finished lower in three straight sessions, although it has eased less than three points in that span. The KOSPI remains just above the 2,200-point plateau and it may take further damage again on Friday.

The global forecast for the Asian markets is broadly lower on global growth concerns and sliding oil prices. The European and U.S. bourses were down and the Asian markets are tipped to follow that lead.

The KOSPI finished barely lower on Thursday following mixed performances from the financials, industrials and technology stocks.

For the day, the index eased 0.04 points to finish at 2,203.42 after trading between 2,196.77 and 2,215.79. Volume was 423 million shares worth 6.25 trillion won. There were 483 gainers and 332 decliners.

Among the actives, Shinhan Financial collected 0.46 percent, while KB Financial skidded 1.13 percent, Hana Financial added 0.50 percent, Samsung Electronics shed 0.32 percent, LG Electronics gained 0.76 percent, LG Display gathered 0.52 percent, SK hynix climbed 1.05 percent, POSCO perked 2.03 percent, SK Telecom dipped 0.19 percent, KEPCO dropped 1.18 percent, Hyundai Motor tumbled 2.70 percent, Kia Motors rose 0.70 percent, Samsung Heavy plunged 3.16 percent and Hyundai Heavy was unchanged.

The lead from Wall Street is weak as stocks opened lower on Thursday and crept further into the red as the day progressed - extending losses from the previous session.

The Dow shed 220.77 points or 0.87 percent to 25,169, while the NASDAQ lost 86.93 points or 1.18 percent to 7,288.93 and the S&P 500 fell 25.56 points or 0.94 percent to 2,706.05.

Renewed concerns about a U.S.-China trade deal generated selling pressure after reports said President Donald Trump and Chinese President Xi Jinping are "highly unlikely" to meet before March 2 - when tariffs on Chinese goods are set to jump automatically.

Worries about the U.S.-China trade talks added to concerns about the global economy after the European Commission lowered its eurozone growth forecast. The downgrade reflected external factors, such as trade tensions, the uncertainty concerning Brexit and the slowdown in emerging markets, notably in China.

Crude oil prices declined on Thursday on concerns of demand growth due to the ongoing trade dispute between the U.S. and China. West Texas Intermediate Crude oil futures for March ended down $1.37 or 2.5 percent at $52.64 a barrel, the lowest settlement in more than a week.

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