Little Movement Expected For South Korea Shares

RTTNews | 174天前

(RTTNews) - The South Korea stock market on Tuesday ended the two-day slide in which it had slipped more than 15 points or 0.6 percent. The KOSPI now rests just beneath the 2,540-point plateau and it figures to remain in that neighborhood again on Wednesday.

The global forecast for the Asian markets is murky amid concerns about interest rates and the possibility of a trade war. The European markets were up and the U.S. bourses were mixed and flat and the Asian markets may split the difference.

The KOSPI finished modestly higher on Tuesday as gains from the technology and chemical companies were tempered by weakness from the financial sector.

For the day, the index gained 17.78 points or 0.71 percent to finish at 2,539.05. Volume was 439.21 million shares worth 10.57 trillion won. There were 469 gainers and 408 decliners.

Among the actives, Shinhan Financial shed 0.61 percent, while KB Financial slumped 0.82 percent, Hana Financial dipped 0.16 percent, Samsung Electronics perked 0.18 percent, Samsung SDI fell 0.24 percent, LG Electronics added 0.76 percent, SK Hynix improved 0.81 percent, Naver added 0.44 percent, LG Chem rose 0.23 percent, Lotte Chemical rallied 1.31 percent, SK Innovation eased 0.13 percent, POSCO Holdings dropped 0.84 percent, SK Telecom jumped 1.82 percent, KEPCO slid 0.24 percent, Hyundai Mobis gained 0.81 percent, Kia Motors sank 0.85 percent and Hyundai Motor was unchanged.

The lead from Wall Street provides little clarity as the major averages opened slightly lower but then headed in opposite directions to finish the day mixed.

The Dow gained 123.24 points or 0.28 percent to finish at 44,593.65, while the NASDAQ sank 70.41 points or 0.36 percent to close at 19,643.86 and the S&P 500 rose 2.06 points or 0.03 percent to end at 6,068.50.

The choppy trading on Wall Street came as traders digested congressional testimony by Federal Reserve Chair Jerome Powell, who told the Senate Banking Committee the central bank does "not need to be in a hurry" to adjust its policy stance.

Stocks moved to the downside in early trading amid lingering concerns about a global trade war after President Donald Trump officially announced tariffs on U.S. steel and aluminum imports.

Oil prices moved higher Tuesday amid concerns about a possible drop in crude supplies due to U.S. sanctions on Russian oil, while a weaker dollar contributed as well to the rise in oil prices. West Texas Intermediate Crude oil futures for March rose $1.00 or 1.4 percent at $73.32 a barrel.

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