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Overbought KOSPI Nonetheless Called Higher

The South Korea stock market has finished higher in nine straight sessions, advancing almost 95 points or 4.5 percent along the way. The KOSPI now rests just beneath the 2,225-point plateau and it's got another green light for Thursday.

The global forecast for the Asian markets is cautiously optimistic on optimism over interest rates and a mild bump in crude oil prices. The European and U.S. markets were slightly higher and the Asian markets are tipped to follow suit.

The KOSPI finished modestly higher on Wednesday following gains from the financial shares, technology stocks and telecoms.

For the day, the index collected 10.83 points or 0.49 percent to finish at 2,224.39 after trading between 2,203.82 and 2,225.02. Volume was 390.93 million shares worth 4.89 trillion won. There were 558 gainers and 258 decliners.

Among the actives, Shinhan Financial collected 0.55 percent, while KB Financial advanced 0.89 percent, Hana Financial eased 0.13 percent, Samsung Electronics added 0.11 percent, LG Electronics sank 0.52 percent, LG Display picked up 0.92 percent, SK hynix climbed 1.03 percent, KEPCO spiked 3.13 percent, Hyundai Motors rose 0.39 percent, Kia Motors soared 2.95 percent, SK Telecom perked 1.02 percent, KT jumped 1.84 percent and POSCO was unchanged.

The lead from Wall Street suggests mild upside as stocks moved slightly higher on Wednesday amid subdued buying interest.

The Dow added 6.58 points or 0.03 percent to finish at 26,157.16, while the NASDAQ gained 54.96 points or 0.69 percent to 7,964.24 and the S&P 500 rose 10.01 points or 0.35 percent to 2,888.21.

The higher close on Wall Street came after the minutes of the Federal Reserve's latest monetary policy meeting suggested the outlook for interest rates remains fluid. However, future rate decisions would depend on ongoing assessments of the economic outlook and potential risks.

In economic news, the Labor Department said that a spike in energy prices contributed to a slightly bigger than expected increase in consumer prices in March.

Crude oil futures settled higher Wednesday as a sharp decline in U.S. gasoline stocks offset a surge in crude stockpiles last week. Crude oil futures for May ended up $0.63 or 0.98 percent at $64.61 a barrel.

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