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Additional Support Seen For South Korea Stock Market

The South Korea stock market on Tuesday wrote a finish to the four-day losing streak in which it had stumbled more than 20 points or 1 percent. The KOSPI now rests just beneath the 2,900-point plateau and it's predicted to open in the green again on Wednesday.

The global forecast for the Asian markets is firm on improved outlooks for interest rates and trade, plus a spike in crude oil prices. The European and U.S. market were up and the Asian bourses figure to follow suit.

The KOSPI finished modestly higher on Tuesday following gains from the financial shares and automobile producers, while the technology stocks were mixed.

For the day, the index advanced 7.98 points or 0.38 percent to finish at 2,098.71 after trading between 2,089.31 and 2,103.02. Volume was 584 million shares worth 4.27 trillion won. There were 479 decliners and 349 gainers.

Among the actives, Shinhan Financial collected 0.77 percent, while KB Financial advanced 0.90 percent, Hana Financial was up 0.54 percent, Samsung Electronics climbed 1.03 percent, LG Electronics added 0.74 percent, LG Display sank 0.59 percent, SK hynix shed 0.47 percent, Hyundai Motor gained 0.71 percent, Kia Motors jumped 1.53 percent, POSCO perked 1.91 percent, SK Telecom accelerated 0.96 percent, Hyundai Steel rose 0.36 percent and Hyundai Engineering & Construction lost 0.55 percent.

The lead from Wall Street is broadly positive as stocks moved sharply higher on Tuesday, sending the major averages to their best closing levels in more than a month.

The Dow added 353.01 points or 1.35 percent to end at 26,465.54, while the NASDAQ gained 108.86 points or 1.39 percent to 7,953.88 and the S&P 500 rose 28.08 points or 0.97 percent to 2,917.75.

Stocks extended an initial move to the upside after President Donald Trump said on Twitter that he had a "very good" telephone conversation with Chinese President Xi Jinping and they will have an extended meeting at the G20 summit next week.

That added to optimism that the Fed will strike a dovish tone in its latest monetary policy decision later today. The Fed is widely expected to leave interest rates unchanged but could signal plans to cut rates as soon as its next meeting in July.

Crude oil futures ended at a one-week high Tuesday amid mild optimism about a U.S.-China trade agreement, while traders also weighed the likely impact of an extended output reduction by OPEC. West Texas Intermediate Crude oil futures for July ended up $1.97 or 3.8 percent at $53.90 per barrel.

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