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Win Streak May End For South Korea Stock Market

The South Korea stock market has finished higher in back-to-back trading days, advancing nearly 40 points or 2 percent along the way. The KOSPI now rests just above the 2,065-point plateau although it may run out of steam on Tuesday.

The global forecast for the Asian markets is slightly soft on renewed uncertainty about a trade deal between the United States and China. The European and U.S. markets finished in the red and the Asian bourses are tipped to follow suit.

The KOSPI finished sharply higher on Monday following gains from the financial shares and technology stocks - although the automobile producers weighed.

For the day, the index climbed 22.79 points or 1.11 percent to finish at 2,067.40 after trading between 2,065.53 and 2,075.10. Volume was 502 million shares worth 4.5 trillion won. There were 668 gainers and 159 decliners.

Among the actives, Shinhan Financial spiked 2.78 percent, while KB Financial collected 2.03 percent, Hana Financial surged 4.01 percent, Samsung Electronics climbed 1.73 percent, LG Electronics rose 0.15 percent, LG Display gained 0.35 percent, SK Hynix added 0.62 percent, POSCO perked 1.55 percent, KEPCO advanced 0.99 percent, Hyundai Motors plunged 3.17 percent, Kia Motors plummeted 2.74 percent and SK Telecom and Naver were unchanged.

The lead from Wall Street is weak as stocks showed a lack of direction on Monday, bouncing back and forth across the unchanged line before ending slightly lower.

The Dow shed 29.23 points or 0.11 percent to finish at 26,787.36, while the NASDAQ lost 8.39 points or 0.10 percent to 8,048.65 and the S&P 500 fell 4.12 points or 0.14 percent to 2,966.15.

The choppy trading on Wall Street came amid light volume due to the Columbus Day holiday as well as renewed uncertainty about a trade deal with China as reports suggest China wants another round of talks before signing the agreement.

Traders are also adopting a wait-and-see attitude ahead of earnings season, which kicks off this week.

Crude oil futures drifted lower Monday on weak data out of China and Brexit concerns weighed on the outlook for energy demand. West Texas Intermediate crude oil futures for November ended down $1.11 or 2 percent at $53.59 a barrel.

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