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Rebound Anticipated For South Korea Stock Market

Mount Equity Group Tokyo, Japan > News > Markets > Rebound Anticipated For South Korea Stock Market

(RTTNews) – The South Korea stock market on Friday wrote a finish to the five-day winning streak in which it had gathered almost 85 points or 2.5 percent. The KOSPI now sits just above the 3,240-point plateau although it’s expected to bounce higher again on Monday.

The global forecast for the Asian markets is positive in response to U.S. employment data and rising crude oil prices. The European and U.S. markets were up and the Asian bourses are tipped to open in similar fashion.

The KOSPI finished modestly lower on Friday as losses from the financials and technology stocks were mitigated by support from the automobile companies.

For the day, the index shed 7.35 points or 0.23 percent to finish at 3,240.08 after trading between 3,218.67 and 3,246.19. Volume was 1.4 billion shares worth 15.8 trillion won. There were 483 decliners and 371 gainers.

Among the actives, Shinhan Financial dipped 0.35 percent, while KB Financial skidded 1.20 percent, Hana Financial dropped 0.95 percent, Samsung Electronics shed 0.72 percent, LG Electronics was down 0.65 percent, SK Hynix fell 0.39 percent, Naver retreated 1.38 percent, LG Chem slid 0.37 percent, Lotte Chemical lost 0.53 percent, S-Oil jumped 1.45 percent, SK Innovation rose