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Additional Support Expected For South Korea Shares

The South Korea stock market has finished higher in three straight sessions, climbing almost 50 points or 2 4 percent along the way. The KOSPI now rests just above the 2,130-point plateau and it may add to its winnings again on Tuesday.

The global forecast for the Asian markets is upbeat on growing optimism that a trade deal between the United States and China will soon be reached. The European and U.S. markets were up and the Asian bourses are tipped to follow suit.

The KOSPI finished sharply higher on Monday following gains from the financial shares, technology stocks and industrial issues.

For the day, the index jumped 30.04 points or 1.43 percent to finish at 2,130.24 after trading between 2,111.32 and 2,130.83. Volume was 470 million shares worth 5.54 trillion won. There were 663 gainers and 185 decliners.

Among the actives, Shinhan Financial collected 0.35 percent, while KB Financial spiked 2.13 percent, Hana Financial advanced 1.46 percent, Samsung Electronics accelerated 2.15 percent, LG Electronics fell 0.15 percent, SK Hynix soared 1.93 percent, Samsung SDI gained 0.87 percent, POSCO perked 1.64 percent, KEPCO dipped 0.20 percent and Kia Motors, SK Telecom and Hyundai Motors were unchanged.

The lead from Wall Street is positive as stocks opened higher Monday and stayed in the green, extending recent gains and hitting record closing highs.

The Dow added 114.75 points or 0.42 percent to 27,462.11, while the NASDAQ rose 46.80 points or 0.56 percent to 8,433.20 and the S&P 500 gained 11.36 points or 0.37 percent to 3,078.27.

The strength on Wall Street came as traders remain hopeful about a U.S.-China trade agreement, with Commerce Secretary Wilbur Ross expressing optimism phase one of a trade deal could be signed this month.

News on the merger-and-acquisition front also generated some positive sentiment, with shares of Wright Medical Group (WMGI) soaring after the medical device maker agreed to be acquired by larger rival Stryker (SYK) for $30.75 per share in cash.

Crude for December delivery moved higher on Monday, adding to recent gains on renewed optimism about the outlook for global demand. West Texas Intermediate climbed $0.45 or 0.80 percent to $56.68 per barrel.

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