KOSPI Likely To Remain Rangebound On Tuesday

(RTTNews) - The South Korea stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day winning streak in which it had climbed almost 40 points or 1.2 percent. The KOSPI sits just above the 3,210-point plateau and it's expected to see additional if mild upside on Tuesday.

The global forecast for the Asian markets offers little clarity as investors wait and see what happens with tariff deadlines. The European and U.S. markets were mixed and little changed and the Asian bourses are expected to open in similar fashion.

The KOSPI finished modestly higher on Monday following gains from the financial shares, technology stocks, chemical companies and steel producers.

For the day, the index gained 22.74 points or 0.71 percent to finish at 3,210.81. Volume was 341.3 million shares worth 10.6 trillion won. There were 489 decliners and 390 gainers.

Among the actives, Shinhan Financial perked 0.15 percent, while KB Financial strengthened 1.41 percent, Hana Financial collected 0.44 percent, Samsung Electronics climbed 1.04 percent, Samsung SDI jumped 1.81 percent, LG Electronics added 0.52 percent, SK Hynix improved 1.30 percent, Naver dropped 0.83 percent, LG Chem surged 6.10 percent, Lotte Chemical soared 4.39 percent, SK Innovation climbed 1.23 percent, POSCO Holdings rallied 5.14 percent, SK Telecom dipped 0.18 percent, KEPCO improved 0.86 percent, Hyundai Mobis slumped 1.32 percent, Hyundai Motor sank 0.71 percent and Kia Motors lost 0.50 percent.

The lead from Wall Street is uninspired as the major averages opened solidly higher on Monday but ebbed throughout the session before ending mixed and little changed.

The Dow sank 19.12 points or 0.04 percent to finish at 44,323.07, while the NASDAQ gained 78.52 points or 0.38 percent to close at a fresh record 20,974.17 and the S&P 500 rose 8.81 points or 0.14 percent to end at 6,305.60 - also a record.

The early strength on Wall Street reflected optimism about potential trade deals, with Commerce Secretary Howard Lutnick saying he is confident the U.S. will reach an agreement with the European Union.

Buying interest waned over the course of the session, however, as traders looked ahead to the release of earnings news from several big-name companies this week, including Google parent Alphabet (GOOGL), Tesla (TSLA) and Intel (INTC).

On the U.S. economic front, a report released by the Conference Board showed its reading on leading U.S. economic indicators fell by slightly more than expected in the month of June.

Crude oil prices slipped on Monday as investors seem concerned that heavy tariffs could block international trade and reduce demand for oil and energy. West Texas Intermediate crude for August delivery dipped $0.11 to $69.17 per barrel.