South Korea Bourse May See Traction On Tuesday

(RTTNews) - The South Korea stock market has finished lower in back-to-back sessions, slumping more than 1.30 points or 1.2 percent along the way. The KOSPI now sits just above the 2,530-point plateau although it may find support on Tuesday.

The global forecast for the Asian markets is positive, mostly on inertia following the U.S. election. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.

The KOSPI finished sharply lower on Monday following losses from the technology, finance and chemical companies, while the automobile producers offered support.

For the day, the index skidded 29.49 points or 1.15 percent to finish at 2,531.66. Volume was 565.2 million shares worth 11.1 trillion won. There were 726 decliners and 186 gainers.

Among the actives, Shinhan Financial shed 0.53 percent, while KB Financial lost 0.54 percent, Hana Financial collected 0.98 percent, Samsung Electronics and Samsung SDI both stumbled 3.51 percent, LG Electronics retreated 1.43 percent, SK Hynix plunged 3.94 percent, Naver advanced 0.80 percent, LG Chem rose 0.33 percent, Lotte Chemical plummeted 10.01 percent, SK Innovation stumbled 2.34 percent, POSCO surrendered 2.66 percent, SK Telecom perked 0.18 percent, KEPCO added 0.23 percent, Hyundai Mobis surged 4.09 percent, Hyundai Motor accelerated 3.69 percent and Kia Motors jumped 1.72 percent.

The lead from Wall Street is cautiously optimistic as the major averages opened higher on Monday and spent most of the day hugging line before finishing with mild gains that were all fresh record closing highs.

The Dow jumped 304.14 points or 0.69 percent to finish at 44,294.13, while the NASDAQ rose 11.99 points or 0.06 percent to close at 19,298.76 and the S&P 500 added 5.81 points or 0.10 percent to end at 6,001.35.

Investors remained optimistic that Donald Trump's policies such as tax reductions and deregulation will help boost corporate earnings.

Oil futures closed sharply lower on Monday, weighed down by a stronger dollar and concerns about demand. West Texas Intermediate Crude oil futures for December ended down $2.34 or 3.6 percent at $68.04 a barrel.