South Korea Shares May Add To Their Winnings On Friday

(RTTNews) - The South Korea stock market has finished higher in three straight sessions, gathering more than 410 points or 5.3 percent in that span. The KOSPI now sits just above the 6,225-point plateau and it may tick higher again on Friday.

The global forecast for the Asian markets is cautiously optimistic on hopes for an end to hostilities in the Middle East. The European and U.S. markets were mostly higher and the Asian bourses are expected to open in similar fashion.

The KOSPI finished sharply higher again on Thursday following gains from the financial shares, technology stocks and automobile producers.

For the day, the index rallied 134.66 points or 2.21 percent to finish at 6,226.05. Volume was 915.8 billion shares worth 26.5 trillion won. There were 654 gainers and 206 decliners.

Among the actives, Shinhan Financial perked 0.10 percent, while KB Financial collected 2.59 percent, Hana Financial climbed 1.16 percent, Samsung Electronics spiked 3.08 percent, Samsung SDI elevated 1.59 percent, LG Electronics rallied 3.11 percent, SK Hynix strengthened 1.67 percent, Naver vaulted 3.55 percent, LG Chem advanced 0.99 percent, Lotte Chemical fell 0.33 percent, SK Innovation soared 4.03 percent, POSCO Holdings added 0.54 percent, SK Telecom tumbled 2.24 percent, KEPCO surged 3.27 percent, Hyundai Mobis improved 2.77 percent, Hyundai Motor soared 5.12 percent and Kia Motors accelerated 4.22 percent.

The lead from Wall Street is positive as the major averages survived early weakness on Thursday and moved modestly up into the green and remained that way to the close.

The Dow climbed 1.15.00 points or 0.24 percent to finish at 48,578.72. while the NASDAQ added 86.69 points or 0.36 percent to close at a record 24,102.70 and the S&P 500 rose 18.33 points or 0.26 percent to end at 7,041.28, also a record.

Traders continued to express optimism about a second round of peace talks between the U.S. and Iran, although a new meeting has not been officially announced.

Adding to the positive sentiment, President Donald Trump announced in a post on Truth Social that Israel and Lebanon have agreed to a 10-day ceasefire.

In U.S. economic news, the Federal Reserve released a report showing industrial production in the U.S. unexpectedly decreased last month.

Crude oil prices surged on Thursday as concerns of supply disruptions continue despite upcoming peace talks between the U.S. and Iran to end the month-long gulf war. West Texas Intermediate crude for May delivery was up $3.45 or 3.78 percent at $94.74 per barrel.