KOSPI May Reclaim 3,200-Point Level

(RTTNews) - The South Korea stock market ticked higher again on Thursday, one day after ending the two-day winning streak in which it had climbed almost 40 points or 1.2 percent. The KOSPI sits just above the 3,190-point plateau and it may add to its winnings on Friday.

The global forecast for the Asian markets is positive, with oil, technology and financial shares likely to lead the way higher. The European and U.S. markets were up and the Asian markets figure to follow that lead.

The KOSPI finished slightly higher on Thursday following gains from the financial shares and chemicals, while the technology and industrial stocks were mixed.

For the day, the index added 5.91 points or 0.19 percent to finish at 3,192.29. Volume was 416.29 million shares worth 14.95 trillion won. There were 470 decliners and 390 gainers.

Among the actives, Shinhan Financial collected 0.72 percent, while KB Financial climbed 1.06 percent, Hana Financial rose 0.22 percent, Samsung Electronics rallied 3.09 percent, Samsung SDI jumped 1.65 percent, LG Electronics advanced 0.80 percent, SK Hynix plummeted 8.95 percent, Naver stumbled 2.60 percent, LG Chem improved 0.79 percent, Lotte Chemical added 0.62 percent, SK Innovation shed 0.45 percent, POSCO Holdings and Hyundai Mobis both gained 0.65 percent, SK Telecom increased 0.89 percent, KEPCO fell 0.30 percent, Hyundai Motor accelerated 1.20 percent and Kia Motors was up 0.70 percent.

The lead from Wall Street is upbeat as the major averages opened solidly in the green on Thursday and extended their gains throughout the day.

The Dow jumped 229.71 points or 0.52 percent to finish at 44,484.49, while the NASDAQ rallied 155.16 points or 0.75 percent to close at a record 20,855.65 and the S&P 500 gained 33.66 points or 0.54 percent to end at 6,297.36, also a record.

The continued strength on Wall Street followed the release of a batch of upbeat U.S. economic data, including a Commerce Department report showing retail sales rebounded by much more than expected in the month of June.

A separate report from the Labor Department showed first-time claims for U.S. unemployment benefits unexpectedly dipped to a three-month low last month, while import prices in the U.S. inched up less than expected in June.

Crude oil prices increased on Thursday as fresh tension brewing in the Middle East generated demand, while a drop in U.S. inventories was seen as reflecting robust summer demand. West Texas Intermediate crude for August delivery surged $1.16 to settle at $67.54 per barrel.