South Korea Shares May End Losing Streak

(RTTNews) - The South Korea stock market has moved lower in back-to-back sessions, sinking almost 30 points or 1.2 percent along the way. The KOSPI now sits just above the 2,615-point plateau although it may stop the bleeding on Wednesday.

The global forecast for the Asian markets suggests mild upside, supported by oil companies and technology stocks. The European and U.S. markets finished higher and the Asian bourses are expected to open in similar fashion.

The KOSPI finished modestly lower on Tuesday following losses from the chemicals, gains from the financials and automobile producers and a mixed picture from the technology stocks.

For the day, the index shed 11.26 points or 0.62 percent to finish at 2,615.81 after trading between 2,612.74 and 2,654.63. Volume was 431.77 million shares worth 8.1 trillion won. There were 576 decliners and 303 gainers.

Among the actives, Shinhan Financial collected 0.72 percent, while KB Financial perked 0.12 percent, Hana Financial rose 0.16 percent, Samsung Electronics skidded 1.16 percent, Samsung SDI added 0.25 percent, LG Electronics strengthened 1.22 percent, SK Hynix retreated 1.65 percent, Naver increased 0.24 percent, LG Chem tumbled 2.90 percent, Lotte Chemical tanked 2.36 percent, SK Innovation slumped 1.12 percent, POSCO Holdings fell 0.32 percent, SK Telecom gained 0.54 percent, KEPCO jumped 1.35 percent, Hyundai Mobis improved 0.72 percent, Hyundai Motor accelerated 3.29 percent and Kia Motors rallied 2.13 percent.

The lead from Wall Street is cautiously optimistic as the major averages hugged both sides of the line on Tuesday before a late push bumped them into the green at the close.

The Dow added 4.18 points or 0.01 percent to finish at 42,587.50, while the NASDAQ climbed 83.26 points or 0.46 percent to close at 18,271.86 and the S&P 500 rose 9.08 points or 0.16 percent to end at 5,776.65.

The choppy trading on Wall Street came amid ongoing uncertainty about President Donald Trump's tariff plans following recent reports he plans to take a more narrow approach to new tariffs.

Trump has recently made many conflicting remarks about his tariff plans, leading to considerable uncertainty on Wall Street.

Meanwhile, traders largely shrugged off a report from the Conference Board showing consumer confidence in the U.S. deteriorated by more than expected in the month of March.

Oil prices dipped on Tuesday on reports Russia and Ukraine have agreed to a partial ceasefire covering the Black Sea. West Texas Intermediate Crude oil futures for May closed lower by $0.11 at $69.00 a barrel.