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South Korea Stock Market May Hit Resistance At 2,100 Points

The South Korea stock market climbed higher in 10 straight sessions, accelerating almost 110 points or 5.6 percent along the way. The KOSPI now rests just above the 2,080-point plateau although it may run out of steam on Friday.

The global forecast for the Asian markets is flat with a touch of upside on concerns over the outlook for interest rates. The European markets were slightly higher and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.

The KOSPI finished modestly higher again on Thursday following gains from the technology stocks and mixed performances from the financials and industrials.

For the day, the index added 9.62 points or 0.46 percent to finish at 2,080.35 after trading between 2,070.53 and 2,089.81. Volume was 484 million shares worth 4.6 trillion won. There were 473 decliners and 340 gainers.

Among the actives, Shinhan Financial collected 0.12 percent, while KB Financial sank 0.81 percent, Hana Financial eased 0.14 percent, Samsung Electronics soared 3.04 percent, LG Electronics skidded 1.36 percent, Samsung SDI advanced 0.85 percent, SK Hynix surged 3.12 percent, POSCO tumbled 1.89 percent, SK Telecom lost 0.21 percent, KEPCO added 0.40 percent, Hyundai Motors climbed 1.18 percent and Kia Motors shed 0.68 percent.

The lead from Wall Street provides little clarity as stocks opened higher on Thursday before giving ground later in the day, ending mixed and roughly flat.

The Dow fell 52.29 points or 0.19 percent to 27,094, while the NASDAQ rose 5.49 points or 0.07 percent to 8,182.88 and the S&P 500 added 0.06 points to end at 3,000.79.

The lackluster close on Wall Street came amid continued uncertainty about the outlook for interest rates following the Federal Reserve's monetary policy announcement on Wednesday.

The Fed lowered interest rates by 25 basis points as expected but indicated officials are mixed about whether the central bank should cut rates again before the end of the year.

In economic news, the Labor Department noted a modest rebound in initial jobless claims last week, while the Philadelphia Federal Reserve saw a modest slowdown in the pace of growth in regional manufacturing activity in September.

Crude oil futures settled just marginally up on Thursday, despite moving up sharply early on in the session on continued geopolitical concerns. West Texas Intermediate crude oil futures for October ended up by 2 cents at $58.13 a barrel.

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