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Win Streak May Continue For South Korea Bourse

The South Korea stock market has moved higher in back-to-back trading days, collecting more than a dozen points or 0.6 percent along the way. The KOSPI now rests just above the 2,020-point plateau and it may extend its gains on Thursday.

The global forecast for the Asian markets is positive on global trade optimism and rising crude oil prices. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.

The KOSPI finished modestly higher on Wednesday following gains from the industrials and chemical companies, while the financials and technology stocks were mixed.

For the day, the index picked up 10.94 points or 0.53 percent to finish at 2,092.78 after trading between 2,076.46 and 2,100.01. Volume was 556 million shares worth 4.86 trillion won. There were 648 gainers and 195 decliners.

Among the actives, Hyundai Heavy soared 2.29 percent, while Samsung Heavy rose 1.66 percent, Shinhan Financial collected 0.56 percent, KB Financial eased 0.11 percent, Hana Financial spiked 2.96 percent, Samsung Electronics shed 0.23 percent, LG Electronics climbed 1.40 percent, LG Display advanced 1.42 percent, SK hynix dipped 0.13 percent, POSCO perked 0.21 percent, SK Telecom shed 0.58 percent, KEPCO tumbled 2.05 percent, Kia Motors dropped 0.94 percent, LG Chemical jumped 2.71 percent and Hyundai Motor was unchanged.

The lead from Wall Street is upbeat as stocks shook off initial weakness and moved mostly higher on Wednesday, continuing to recover from Monday's sell-off.

The Dow added 115.97 points or 0.45 percent to end at 25,648.02, while the NASDAQ jumped 87.65 points or 1.13 percent to 7,822.15 and the S&P 500 rose 16.55 points or 0.58 percent to 2,850.96.

The strength on Wall Street reflected a positive reaction to reports President Donald Trump plans to delay imposing steep tariffs on auto imports. Reports indicated Trump plans to delay imposing the auto tariffs by up to six months in order to allow negotiations to continue.

Stocks initially came under pressure a Commerce Department showing an unexpected pullback in U.S. retail sales in April. Negative sentiment was also generated by a Federal Reserve report showing an unexpected drop in industrial output in April.

Crude oil futures inched higher on Wednesday, despite data from the Energy Information Administration that showed an unexpected increase in U.S. crude stockpiles last week. West Texas Intermediate Crude oil futures for June ended up $0.24 at $62.02 a barrel.

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