More Pain Predicted For South Korea Stock Market

(RTTNews) - The South Korea stock market has finished lower in two of three trading days since the end of the two-day winning streak in which it had advanced almost 50 points or 2 percent. The KOSPI now sits just beneath the 2,540-point plateau and it may take further damage on Wednesday.

The global forecast for the Asian markets remains negative on concerns over tariff and on the health f the world's economy. The European and U.S. markets were down again and the Asian bourses are expected to open in similar fashion.

The KOSPI finished sharply lower on Tuesday following losses from the financial shares, chemical companies, technology stocks and industrials.

For the day, the index stumbled 32.79 points or 1.28 percent to finish at 2,537.60 after trading between 2,505.91 and 2,547.88. Volume was 370.3 million shares worth 9.47 trillion won. There were 730 decliners and 179 gainers.

Among the actives, Shinhan Financial retreated 1.32 percent, while KB Financial declined 1.40 percent, Hana Financial dropped 0.84 percent, Samsung Electronics dipped 0.19 percent, Samsung SDI tanked 3.27 percent, LG Electronics soared 3.40 percent, SK Hynix eased 0.05 percent, Naver skidded 1.16 percent, LG Chem stumbled 3.43 percent, Lotte Chemical surrendered 3.13 percent, SK Innovation slumped 0.96 percent, POSCO Holdings plunged 4.51 percent, SK Telecom advanced 0.91 percent, KEPCO tumbled 1.98 percent, Hyundai Mobis plummeted 4.06 percent, Hyundai Motor sank 0.91 percent and Kia Motors added 0.41 percent.

The lead from Wall Street remains soft as the major averages opened mixed but trended generally lower throughout the day before ending in the red.

The Dow tumbled 478.23 points or 1.14 percent to finish at 41,433.48, while the NASDAQ shed 32.23 points or 0.18 percent to close at 17,436.10 and the S&P 500 sank 42.49 points or 0.76 percent to end at 5,572.07.

Stocks tumbled as trade war concerns have escalated with the U.S. and Canada slapping tariffs on each other's goods.

Markets now await U.S. reports on consumer and producer price inflation, as well as readings on consumer sentiment and inflation expectations this week for further direction.

Oil prices climbed higher on Tuesday, bouncing back fairly well on a weaker dollar after dropping to six-month lows in the previous session. West Texas Intermediate Crude oil futures for April added $0.22 or 0.3 percent at $66.25 a barrel.