South Korea Shares Expected To Open In The Green

(RTTNews) - The South Korea stock market on Tuesday ended the three-day slide in which it plunged almost 110 points or 4.3 percent. The KOSPI now sits just above the 2,380-point plateau and it may add to its winnings on Wednesday.

The global forecast for the Asian markets is positive on bargain hunting and earnings news. The European and U.S. markets were up and the Asian markets are expected to follow that lead.

The KOSPI finished sharply higher on Tuesday following gains from the steel, chemical and technology stocks.

For the day, the index climbed 26.49 points or 1.12 percent to finish at 2,383.51. Volume was 437.5 million shares worth 7.8 trillion won. There were 630 gainers and 249 decliners.

Among the actives, Shinhan Financial fell 0.28 percent, while KB Financial collected 0.72 percent, Hana Financial was down 0.12 percent, Samsung Electronics perked 0.15 percent, Samsung SDI rallied 1.27 percent, LG Electronics improved 0.67 percent, SK Hynix spiked 2.26 percent, Naver skyrocketed 4.88 percent, LG Chem accelerated 2.29 percent, Lotte Chemical gained 0.62 percent, SK Innovation soared 2.29 percent, POSCO surged 4.64 percent, SK Telecom added 0.51 percent, KEPCO shed 0.31 percent, Hyundai Mobis eased 0.23 percent, Hyundai Motor retreated 1.40 percent, Kia Motors skidded 1.08 percent and S-Oil was unchanged.

The lead from Wall Street is upbeat as the major averages opened higher on Tuesday and remained in the green throughout the session.

The Dow jumped 204.97 points or 0.62 percent to finish at 33,141.38, while the NASDAQ gained 121.55 points or 0.93 percent to end at 13,139.88 and the S&P 500 added 30.64 points or 0.73 percent to close at 4,247.68.

The strength on Wall Street reflected a positive reaction to the latest batch of earnings news, as a number of big-name companies reported better than expected quarterly results, including General Electric (GE), 3M Co. (MMM) and Coca-Cola (KO).

Crude oil prices fell sharply Tuesday, extending losses to a third straight session amid concerns about the outlook for energy demand, while the dollar's rally also weighed. West Texas Intermediate Crude oil futures for December sank $1.75 or 2.1 percent at $83.74 a barrel.