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South Korea Bourse May Continue Winning Streak

The South Korea stock market has finished higher in back-to-back trading days, gathering more than five points or 0.2 percent along the way. The KOSPI now rests just above the 2,070-point plateau and it's looking at another green light again on Monday.

The global forecast for the Asian markets is positive on an improved outlook for interest rates and a surge in crude oil prices. The European and U.S. markets were up on Friday and the Asian markets are tipped to follow that lead.

The KOSPI finished slightly higher on Friday as gains from the technology stocks were limited by weakness from the industrials and a mixed picture from the financial sector.

For the day, the index added 3.22 points or 0.16 percent to finish at 2,072.33 after trading between 2,057.97 and 2,081.16. Volume was 357.53 million shares worth 4.24 trillion won. There were 565 gainers and 260 decliners.

Among the actives, KB Financial dipped 0.34 percent, while Hana Financial collected 1.35 percent, Samsung Electronics added 0.68 percent, LG Electronics advanced 0.90 percent, LG Display sank 1.19 percent, SK hynix gained 0.46 percent, SK Telecom dropped 0.97 percent, POSCO tumbled 1.89 percent, Hyundai Motor lost 0.71 percent, Kia Motors skidded 1.20 percent, Samsung Heavy Industries shed 0.51 percent and Shinhan Financial and KEPCO were unchanged.

The lead from Wall Street is solid as stocks extended recent gains, moving sharply higher on Friday.

The Dow climbed 263.28 points or 1.02 percent, while the NASDAQ spiked 126.55 points or 1.66 percent to 7,742.10 and the S&P 500 rose 29.85 points or 1.05 percent to 2,873.34. For the week, the Dow surged 4.7 percent, the NASDAQ jumped 3.9 percent and the S&P was up 4.4 percent.

The continued strength on Wall Street reflected optimism that disappointing U.S. jobs data could spur the Federal Reserve to lower interest rates in the near future. The Labor Department's closely watched monthly jobs report showed a substantial slowdown in the pace of U.S. job growth in May.

Stocks remained firmly positive after President Donald Trump said there is a good chance the U.S. and Mexico will reach an agreement to avert his threatened 5 percent tariff on all Mexican imports.

Crude oil futures ended sharply higher for a second straight session on Friday, amid signs OPEC will extend output cuts beyond June. West Texas Intermediate crude oil futures for July ended up $1.40 or 2.7 percent at $53.99 a barrel.

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