Win Streak May Continue For South Korea Shares

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(RTTNews) - The South Korea stock market has finished higher in two straight sessions, advancing more than 55 points or 2.3 percent along the way. The KOSPI now sits just above the 2,470-point plateau and it may add to its winnings again on Wednesday.

The global forecast for the Asian markets is mixed to higher, with support again expected from the oil and technology sectors. The European markets were down and the U.S. bourses were mostly higher and the Asian markets are tipped to follow the latter lead.

The KOSPI finished slightly higher on Tuesday following gains from the energy companies, losses from the automobile producers and mixed performances from the financial and technology sectors.

For the day, the index rose 2.88 points or 0.12 percent to finish at 2,471.95 after trading between 2,465.15 and 2,479.39. Volume was 401.2 million shares worth 8.9 trillion won. There were 458 gainers and 409 decliners.

Among the actives, Shinhan Financial collected 0.37 percent, while KB Financial perked 0.11 percent, Hana Financial lost 0.50 percent, Samsung Electronics sank 0.71 percent, Samsung SDI retreated 1.33 percent, LG Electronics improved 0.78 percent, SK Hynix shed 0.64 percent, Naver climbed 1.15 percent, LG Chem fell 0.35 percent, Lotte Chemical jumped 1.97 percent, SK Innovation skyrocketed 10.30 percent, POSCO added 0.34 percent, SK Telecom gained 0.36 percent, KEPCO strengthened 1.48 percent, Hyundai Mobis plunged 3.09 percent, Hyundai Motor slumped 0.69 percent and Kia Motors stumbled 1.45 percent.

The lead from Wall Street is cautiously optimistic after the major averages opened lower on Tuesday, although the NASDAQ and S&P 500 managed to finish in the green.

The Dow slumped 120.66 points or 0.28 percent to finish at 43,268.94, while the NASDAQ rallied 195.66 points or 1.04 percent to close at 18.987.47 and the S&P added 23.36 points or 0.40 percent to end at 5,916.98.

The early weakness on Wall Street came amid concerns about escalating tensions between the U.S. and Russia over the war in Ukraine.

After President Joe Biden gave Ukraine permission to attack Russian territory using U.S.-made long-range missiles, Russian President Vladimir Putin has signed a decree amending the country's nuclear doctrine.

Selling pressure waned shortly after the start of trading, however, with an advance by shares of Nvidia (NVDA) helping lead the turnaround by the NASDAQ. Nvidia will release Q3 results later today.

Oil futures settled higher on Tuesday amid the rising possibility of supply disruptions after Ukraine launched long-range U.S. made missiles to hit a facility in Russia's Bryansk region. West Texas Intermediate Crude oil futures for December rose $0.23 or about 0.3 percent at $69.39 a barrel.

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