Win Streak May Continue For South Korea Shares

(RTTNews) - The South Korea stock market has finished higher in three straight sessions, collecting more than 80 points or 2.5 percent along the way. The KOSPI now sits just beneath the 3,135-point plateau and it may extend its gains again on Thursday.

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

The KOSPI finished modestly higher again on Wednesday following mixed performances from the technology and industrial stocks, while the financial sector was down on profit taking.

For the day, the index gained 18.79 points or 0.60 percent to finish at 3,133.74. Volume was 637.3 million shares worth 12.5 trillion won. There were 698 gainers and 199 decliners.

Among the actives, Shinhan Financial tumbled 1.83 percent, while KB Financial tanked 2.95 percent, Hana Financial shed 0.42 percent, Samsung Electronics retreated 1.63 percent, Samsung SDI surrendered 2.80 percent, LG Electronics perked 0.14 percent, SK Hynix fell 0.35 percent, Naver retreated 1.55 percent, LG Chem soared 3.80 percent, SK Innovation spiked 2.92 percent, POSCO Holdings rose 0.32 percent, SK Telecom improved 0.73 percent, KEPCO stumbled 2.85 percent, Hyundai Mobis rallied 1.48 percent, Hyundai Motor sank 0.71 percent, Kia Motors added 0.50 percent and Lotte Chemical was unchanged.

The lead from Wall Street is upbeat as the major averages opened higher on Wednesday and remained in the green throughout the session, ending with modest gains.

The Dow jumped 217.54 points or 0.49 percent to finish at 44,458.30, while the NASDAQ rallied 192.88 points or 0.94 percent to end at 20,611.34 and the S&P 500 added 37.74 points or 0.61 percent to close at 6,263.26.

The strength on Wall Street reflected optimism about a potential trade deal between the U.S. and the European Union.

Nvidia (NVDA) helped lead the markets higher, with the AI darling jumping by 1.8 percent and briefly becoming the first company to reach a market capitalization of $4 trillion.

Meanwhile, the Federal Reserve released the minutes of its June monetary policy meeting, which revealed most participants generally agree the central bank is well positioned to wait for more clarity on the outlook for inflation and the economy before adjusting interest rates.

Crude oil price inched higher on Wednesday, as Saudi projections for increased demand were offset by a jump in U.S. oil inventories. West Texas Intermediate crude for August delivery ticked higher by $0.05 to settle at $68.38 per barrel.

Closer to home, the Bank of Korea will wrap up its monetary policy meeting today and then announce its decision on interest rates; the BoK is expected to keep its benchmark lending rate steady at 2.50 percent.