The South Korea stock market has finished higher in four consecutive trading days, collecting almost 25 points or 1 percent along the way. The KOSPI now rests just beneath the 2,380-point plateau and the market may spin its wheels on Monday.
The global forecast for the Asian markets is roughly flat amid a lack of catalysts, with a mild bump in crude oil prices limiting any downside. The European and U.S. markets were mixed and flat, and the Asian bourses figure to follow suit.
The KOSPI finished slightly higher on Friday following gains from the financial shares, technology stocks and industrial issues.
For the day, the index picked up 2.67 points or 0.11 percent to finish at 2,378.51 after trading between 2,372.67 and 2,384.59. Volume was 337.56 million shares worth 4.55 trillion won. There were 458 gainers and 327 decliners.
Among the actives, Shinhan Financial soared 2.11 percent, while Woori Bank surged 2.43 percent, Samsung Electronics skidded 1.05 percent, Hyundai Motor added 0.70 percent, Kia Motors jumped, POSCO spiked 1.36 percent, Hyundai Steel perked 1.72 percent and Korea Electric Power advanced 0.68 percent.
The lead from Wall Street is murky as stocks turned mixed on Friday, after failing to sustain an early upward move.
The NASDAQ fell 5.68 points or 0.1 percent to 6,265.64, while the Dow added 30.27 points or 0.1 percent to 21,813.67 and the S&P gained 4.08 points or 0.2 percent to 2,443.05. For the week, the Dow rose 0.6 percent, NASDAQ was up 0.8 percent and the S&P gained 0.7 percent.
The early strength was due to optimism about tax reform after reports President Donald Trump would launch a public campaign to highlight the need for reform this week.
Traders also reacted to Federal Reserve Chair Janet Yellen's remarks at the Fed's economic policy symposium in Jackson Hole, Wyoming. She refrained from discussing monetary policy, focusing on the topic of financial stability a decade after the onset of the financial crisis.
European Central Bank President Mario Draghi also spoke at the symposium, saying the global economic recovery is "firming up."
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