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South Korea Bourse May Extend Winning Streak

The South Korea stock market has finished higher in two straight sessions, gathering more than a dozen points or 0.6 percent along the way. The KOSPI now rests just above the 1,935-point plateau and it's looking at another green light for Tuesday's trade.

The global forecast for the Asian markets is broadly positive on optimism for a possible vaccine to counter the Covid-19 virus. The European and U.S. markets were sharply higher and the Asian bourses are tipped to follow suit.

The KOSPI finished modestly higher on Monday as gains from the technology stocks and oil companies were sapped by weakness from the financial sector.

For the day, the index added 9.83 points or 0.51 percent to finish at 1,937.11 after trading between 1,921.14 and 1,943.07. Volume was 752.7 million shares worth some 9.24 trillion won. There were 424 decliners and 423 gainers.

Among the actives, Shinhan Financial skidded 1.36 percent, while KB Financial retreated 1.43 percent, Hana Financial tumbled 1.78 percent, Samsung Electronics accelerated 1.99 percent, LG Electronics soared 3.68 percent, SK Hynix dropped 0.98 percent, S-Oil gained 0.91 percent, SK Innovation spiked 2.54 percent, Lotte Chemical rose 0.81 percent, POSCO perked 0.60 percent, SK Telecom advanced 0.74 percent, KEPCO plunged 2.05 percent, Hyundai Motors fell 0.43 percent and Kia Motors gathered 0.86 percent.

The lead from Wall Street is upbeat as stocks opened sharply higher on Monday and gathered even more steam as the session progressed, cutting into last week's losses.

The Dow surged 911.95 points or 3.85 percent to finish at 24,597.37, while the NASDAQ jumped 220.27 points or 2.44 percent to 9.234.83 and the S&P 500 spiked 90.21 points or 3.15 percent to end at 2,953.91.

The rally on Wall Street came after Moderna (MRNA) reported "positive" phase one results for a potential coronavirus vaccine. Shares of the firm spiked 20 percent after the bio-tech company said an early-stage human trial for a vaccine produced antibodies in all 45 participants.

Energy stocks also saw substantial strength on the day as crude oil prices moved higher on Monday on easing worries about outlook for energy demand. West Texas Intermediate crude oil futures for June ended up $2.39 or 8.1 percent at $31.82 a barrel.

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