South Korea Shares May Run Out Of Steam On Friday

(RTTNews) - The South Korea stock market has moved higher in four straight sessions, advancing almost 110 points or 3.6 percent along the way. The KOSPI now sits just above the 3,225-point plateau although the rally may stall on Friday.

The global forecast for the Asian markets is murky, clouded by conflicting reports on U.S. tariffs. The European and U.S. markets were mixed and the Asian bourses figure to tick lower on profit taking.

The KOSPI finished modestly higher on Thursday following gains from the technology stocks, weakness from the chemicals and mixed performances from the financials and industrials.

For the day, the index advanced 29.54 points or 0.92 percent to finish at 3,227.68. Volume was 324.1 million shares worth 11.16 trillion won. There were 459 gainers and 406 declines.

Among the actives, Shinhan Financial collected 0.73 percent, while KB Financial lost 0.52 percent, Hana Financial rose 0.35 percent, Samsung Electronics rallied 2.47 percent, Samsung SDI slipped 0.46 percent, LG Electronics added 0.39 percent, SK Hynix strengthened 1.35 percent, Naver spiked 3.06 percent, LG Chem stumbled 2.42 percent, Lotte Chemical surrendered 2.95 percent, SK Innovation shed 0.34 percent, POSCO Holdings fell 0.34 percent, SK Telecom retreated 1.42 percent, KEPCO jumped 2.07 percent, Hyundai Mobis soared 3.15 percent, Hyundai Motor accelerated 0.95 percent and Kia Motors was unchanged.

The lead from Wall Street offers little clarity as the major averages opened higher but quickly slumped and then spent the day hugging the line, ending little changed and on opposite sides.

The Dow stumbled 224.48 points or 0.51 percent to finish at 43,968.64, while the NASDAQ gained 73.27 points or 0.35 percent to close at 21,242.70 and the S&P 500 fell 5.06 points or 0.08 percent to end at 6,340.00.

The early strength on Wall Street came after President Donald Trump announced a 100 percent tariff on imports of semiconductors and chips but said companies that are building in the United States would be exempt.

Buying interest waned over the course of the session, however, as traders continued to express concerns about the economic impact of Trump's trade policies as new tariffs on dozens of countries took effect on Thursday.

In U.S. economic news, the Labor Department said first-time claims for U.S. unemployment benefits rose more than expected last week. Also, the Labor Department noted a significant rebound by labor productivity in the second quarter.

Crude oil prices fell Thursday on inconsistency in the U.S. stance on Russia and it's invasion on Ukraine. West Texas Intermediate crude for September delivery was down $0.49 or 0.76 percent at $63.86 per barrel.