South Korea Shares Poised To Open In The Green

(RTTNews) - The South Korea stock market has climbed higher in three straight sessions, advancing almost 90 points or 4 percent along the way. The KOSPI now rests just beneath the 2,250-point plateau and it may extend its gains again on Wednesday.

The global forecast for the Asian markets is upbeat on bargain hunting and renewed optimism over earnings. The European and U.S. markets were firmly higher and the Asian bourses are expected to open in similar fashion.

The KOSPI finished sharply higher again on Tuesday following gains from the financials, chemicals, industrials and technology stocks.

For the day, the index climbed 30.24 points or 1.36 percent to finish at 2,249.95 after trading between 2,221.44 and 2,251.74. Volume was 572.65 million shares worth 7.13 trillion won. There were 800 gainers and 88 decliners.

Among the actives, Shinhan Financial strengthened 1.52 percent, while KB Financial rallied 3.16 percent, Hana Financial spiked 2.87 percent, Samsung Electronics dipped 0.18 percent, LG Electronics improved 1.35 percent, SK Hynix increased 0.63 percent, Naver soared 3.29 percent, LG Chem skyrocketed 6.26 percent, Lotte Chemical accelerated 2.45 percent, S-Oil fell 0.36 percent, POSCO climbed 1.01 percent, SK Telecom jumped 2.45 percent, Hyundai Mobis surged 4.62 percent, Hyundai Motor gained 0.60 percent, Kia Motors added 0.58 percent and KEPCO, SK Innovation and Samsung SDI were unchanged.

The lead from Wall Street is positive as the major averages opened higher on Tuesday, faded midday but bounced higher again heading into the close.

The Dow surged 337.98 points or 1.12 percent to finish at 30,525.80, while the NASDAQ advanced 96.60 points or 0.90 percent to end at 10,772.40 and the S&P 500 climbed 42.03 points or 1.14 percent to close at 3,719.98.

The initial strength on Wall Street reflected a positive reaction to upbeat earnings news from companies like Goldman Sachs (GS) and Johnson & Johnson (JNJ), which helped ease concerns about the strength of the earnings season.

In economic news, the Federal Reserve released a report showing industrial production increased by more than expected in September.

Crude oil prices fell sharply on Tuesday after a volatile session amid uncertainty about the outlook for energy demand. West Texas Intermediate Crude oil futures for November slumped $2.64 or 3.1 percent at $82.82 a barrel.