South Korea Shares May Turn Lower Again On Wednesday

(RTTNews) - The South Korea stock market on Tuesday snapped the four-day losing streak in which it had stumbled more than 190 points or 7.9 percent. The KOSPI now rests just above the 2,330-point plateau although it figures to head south again on Wednesday.

The global forecast suggests volatility, with wild swings on deeply discounted stocks tempered by ongoing trade concerns. The European markets were up and the U.S. bourses were down and the Asian markets figure to follow the latter lead.

The KOSPI finished slightly higher in a technical rebound on Tuesday following mixed performances from the technology stocks and weakness from the financial shares and chemicals.

For the day, the index added 6.03 points or 0.26 percent to finish at 2,334.23 after trading between 2,328.94 and 2,381.31.

Among the actives, Shinhan Financial tanked 2.66 percent, while KB Financial surrendered 2.49 percent, Hana Financial tumbled 2.35 percent, Samsung Electronics added 0.56 percent, Samsung SDI retreated 2.11 percent, LG Electronics declined 1.76 percent, SK Hynix rallied 2.85 percent, Naver plummeted 6.36 percent, LG Chem eased 0.10 percent, Lotte Chemical slumped 1.58 percent, SK Innovation sank 0.82 percent, POSCO weakened 1.37 percent, SK Telecom stumbled 1.97 percent, Hyundai Mobis plunged 4.82 percent, Hyundai Motor perked 0.06 percent, Kia Motors fell 0.35 percent and KEPCO was unchanged.

The lead from Wall Street suggests further consolidation as the major averages opened in the green on Tuesday but faded as the day progressed, ending firmly under water.

The Dow stumbled 320.01 points or 0.84 percent to finish at 37,645.69, while the NASDAQ plunged 335.35 points or 2.15 percent to close at 15,267.91 and the S&P 500 dropped 79.48 points or 1.57 percent to end at 4,982.77.

The early rally on Wall Street partly reflected optimism about negotiations on President Donald Trump's new tariffs that could help avoid a global trade war.

Buying waned over the course of the session, however, as tensions over tariffs continue to rise between the U.S. and China.

After showing a strong move to the upside early in the session, the price of crude oil once again came under pressure over the course of the trading day on Tuesday. West Texas Intermediate for May delivery tumbled $1.12 or 1.9 percent to $59.58 a barrel, its lowest level since April 2021.