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Continued Selling Pressure Likely For South Korea Shares

The South Korea stock market turned lower again on Tuesday, one session after it had ended the two-day slide in which it had stumbled almost 40 points or 1.9 percent. The KOSPI now rests just beneath the 2,085-point plateau and it may take further damage on Wednesday.

The global forecast for the Asian markets is negative on continuing concerns over the trade dispute between the United States and China. The European markets were mixed and the U.S. markets were down and the Asian bourses are also tipped to open in the red.

The KOSPI finished modestly lower on Tuesday following losses from the financial shares, while the technology and industrial stocks were mixed.

For the day, the index shed 7.85 points or 0.38 percent to finish at 2,084.07 after trading between 2,066.60 and 2,085.71. Volume was 436 million shares worth 4.04 trillion won. There were 520 decliners and 307 gainers.

Among the actives, Shinhan Financial shed 0.34 percent, while KB Financial dipped 0.22 percent, Hana Financial lost 0.83 percent, Samsung Electronics sank 0.99 percent, LG Electronics rose 0.28 percent, Samsung SDI jumped 1.28 percent, SK Hynix plunged 2.24 percent, POSCO fell 0.43 percent, SK Telecom added 0.21 percent, KEPCO advanced 0.88 percent, Kia Motors gained 0.82 percent and Hyundai Motors was unchanged.

The lead from Wall Street is soft as stocks opened sharply lower on Tuesday, regained some ground but still finished firmly in the red.

The Dow shed 280.23 points or 1.01 percent to 27,502.81, while the NASDAQ lost 47.34 points or 0.55 percent to 8,520.64 and the S&P 500 fell 20.67 points or 0.66 percent to 3,093.20.

The early sell-off on Wall Street came amid renewed trade concerns after President Donald Trump suggested he might prefer to wait until after the 2020 elections to strike a trade deal with China.

The comments from the president added to rising trade concerns after his administration threatened to impose duties of up to 100 percent on $2.4 billion in French imports, including champagne and handbags.

After recovering from an early move to the downside, the price of crude oil fluctuated over the course of the trading day on Tuesday. Crude oil for January delivery eventually ended the day up $0.14 or 0.3 percent at $56.10 after falling as low as $55.35 a barrel.

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