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South Korea Bourse May Add To Its Winnings

The South Korea stock market has finished higher in back-to-back trading days, advancing nearly 40 points or 1.9 percent along the way. The KOSPI now rests just above the 2,160-point plateau and it's looking at another solid lead for Monday's trade.

The global forecast for the Asian markets is firm on growing optimism for a resolution in the trade dispute between the United States and China. The European and U.S. markets were up on Friday and the Asian bourses are tipped to follow suit.

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

For the day, the index climbed 22.95 points or 1.07 percent to finish at 2,162.18 after trading between 2,135.26 and 2,165.02. Volume was 547 million shares worth 5.6 trillion won. There were 502 gainers and 333 decliners.

Among the actives, Shinhan Financial collected 0.23 percent, while Hana Financial gained 0.98 percent, Samsung Electronics advanced 1.70 percent, LG Electronics soared 1.78 percent, LG Display surged 2.17 percent, SK Hynix accelerated 2.16 percent, Naver plummeted 3.61 percent, LG Chem eased 0.63 percent, POSCO perked 1.82 percent, SK Telecom was up 0.62 percent, KEPCO fell 0.36 percent, Hyundai Motors added 0.80 percent, Kia Motors rose 0.23 percent and KB Financial was unchanged.

The lead from Wall Street is positive as stocks showed a strong upward move, sending the major averages to fresh record closing highs.

The Dow added 222.93 points or 0.93 percent to 28.004.89, while the NASDAQ gained 61.81 points or 0.73 percent to 8,540.83 and the S&P 500 rose 23.83 points or 0.77 percent to 3,120.46. For the week, the Dow jumped 1.2 percent, the NASDAQ climbed 0.8 percent and the S&P was up 0.9 percent.

The strength on Wall Street came amid renewed optimism about a U.S.-China trade deal following comments from White House officials. Also, China has lifted a nearly five-year ban on imports of U.S. poultry in a goodwill gesture that could lead to more than $1 billion in annual shipments to China.

In economic news, the Commerce Department said U.S. retail sales rebounded slightly more than expected in October, while the Federal Reserve noted a steep drop in industrial output last month.

Crude oil prices ended sharply higher Friday on renewed optimism about a potential U.S.-China trade deal and hopes the OPEC might decide to deepen its supply cuts. West Texas Intermediate Crude oil futures for December ended up $0.95 or 1.7 percent at $57.72 a barrel.

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