The South Korea stock market on Wednesday ended the two-day slide in which it had surrendered almost 20 points or 0.8 percent. The KOPSI remains just beneath the 2,460-point plateau and it may add to its winnings on Thursday.
The global forecast for the Asian suggests mild upside, thanks to a bump in crude oil prices. The European and U.S. markets were up and the Asian bourses figure to follow suit.
The KOSPI finished barely higher on Wednesday as gains from the financials and stocks were offset by weakness from the industrials.
For the day, the index added 1.28 points or 0.05 percent to finish at 2,459.82 after trading between 2,444.67 and 2,465.55. Volume was 685 million shares worth 9.73 trillion won. There were 660 decliners and 196 gainers.
Among the actives, Shinhan Financial collected 0.62 percent, while Woori Bank perked 1.62 percent, Hana Financial added 0.66 percent, Samsung Electronics jumped 1.32 percent, SK hynix spiked 2.84 percent, LG Electronics climbed 1.02 percent, Hyundai Motor perked 1.35 percent, Kia Motors gained 0.30 percent, Hyundai Engineering plummeted 6.35 percent, GS Engineering plunged 5.53 percent, POSCO tumbled 2.02 percent and Hyundai Steel skidded 5.83 percent.
The lead from Wall Street is positive as stocks fluctuated on Wednesday but finished mostly higher - offsetting somewhat the sharp pullback in the previous session.
The Dow rose 62.52 points or 0.25 percent to 24,768.93, the NASDAQ advanced 46.67 points or 0.63 percent to 7,398.30 and the S&P 500 climbed 11.01 points or 0.41 percent to 2,722.46.
Buying interest was subdued, with geopolitical uncertainty keeping some traders on the sidelines after North Korea threatened to cancel an historic meeting between leader Kim Jong Un and President Donald Trump.
In economic news, the Commerce Department reported a sharp pullback in new residential construction in April, while building permits also tumbled. Also, the Federal Reserve said industrial production increased more than expected in April.
Crude oil futures nudged higher Wednesday amid a large decrease in U.S. oil stockpiles. June WTI oil inch up by 18 cents, or nearly 0.3 percent, to settle at $71.49/bbl.
by P2PNews Staff Writer