KOSPI May Be Stuck In Neutral On Friday

(RTTNews) - The South Korea stock market has finished higher in four straight sessions, collecting more than 130 points or 4.1 percent along the way. The KOSPI now sits just above the 3,180-point plateau although it's due for consolidation on Friday.

The global forecast for the Asian markets is cautiously optimistic, with support expected from airline, steel and financial stocks. The European markets were mixed and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.

The KOPSI finished sharply higher on Thursday following gains from the technology, chemical and industrial companies.

For the day, the index jumped 49.49 points or 1.58 percent to finish at 3,183.23. Volume was 589.8 million shares worth 14 trillion won. There were 597 gainers and 287 decliners.

Among the actives, Shinhan Financial perked 0.14 percent, while KB Financial retreated 1.35 percent, Hana Financial stumbled 2.02 percent, Samsung Electronics advanced 0.99 percent, Samsung SDI was up 0.12 percent, LG Electronics spiked 2.31 percent, SK Hynix surged 5.69 percent, Naver rallied 2.17 percent, LG Chem skyrocketed 8.29 percent, Lotte Chemical rose 0.15 percent, SK Innovation soared 3.86 percent, POSCO Holdings improved 0.80 percent, SK Telecom added 0.55 percent, KEPCO sank 0.80 percent, Hyundai Mobis climbed 1.29 percent, Hyundai Motor dropped 0.72 percent and Kia Motors gained 0.50 percent.

The lead from Wall Street suggests mild upside as the major averages opened lower on Thursday but gradually moved higher over the course of the day to end with small gains.

The Dow climbed 192.34 points or 0.43 percent to finish at 44,650.64, while the NASDAQ rose 19.33 points or 0.09 percent to close at 20,630.66 and the S&P 500 added 17.20 points or 0.27 percent to end at 6,280.46.

The higher close on Wall Street came despite ongoing uncertainty about President Donald Trump's trade policies as he continues to threaten higher tariffs on various sectors and countries.

On the economic front, the Labor Department said first-time claims for U.S. unemployment benefits unexpectedly edged lower last week.

Crude oil prices fell on Thursday amid concerns about a supply increase for August by OPEC, the huge crude stock inventory in the United States and intensifying U.S. tariff pressures. West Texas Intermediate crude for August delivery tumbled $1.81 to settle at $66.57 per barrel.