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South Korea Shares May Recede From Record High

Mount Equity Group Tokyo, Japan > News > Markets > South Korea Shares May Recede From Record High

(RTTNews) – The South Korea stock market bounced higher again on Monday, one session after halting the five-day winning streak in which it had gathered almost 85 points or 2.5 percent. Now at a fresh record closing high, the KOSPI sits just above the 3,250-point plateau although investors figure to cash in on Tuesday.

The global forecast for the Asian markets suggests directionless trade amidst a lack of catalysts, with weakness from the oil stocks offset by gains from technology shares. The European and U.S. markets were mixed and little changed and the Asian bourses figure to follow suit.

The KOSPI finished modestly higher on Monday following gains from the financial shares and chemical companies, while the technology and oil stocks were mixed.

For the day, the index gained 12.04 points or 0.37 percent to finish at 3,252.12 after trading between 3,233.40 and 3,264.41. Volume was 1.7 billion shares worth 18.8 trillion won. There were 441 decliners and 399 gainers.

Among the actives, Shinhan Financial climbed 1.06 percent, while KB Financial collected 0.69 percent, Hana Financial rose 0.43 percent, Samsung Electronics shed 0.36 percent, LG Electronics improved 0.98 percent, Naver jumped 1.54 percent, LG Chem added 0.62 percent, Lotte Chemical