Win Streak May Continue For South Korea Shares

(RTTNews) - The South Korea stock market has tracked higher in three straight sessions, accelerating almost 190 points or 5 percent in that span. Now at another fresh record closing high, the KOSPI rests just beneath the 3,750-point plateau and it may add to its winnings again on Monday.

The global forecast for the European markets is cautiously optimistic on easing economic tensions between the United States and China. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The KOSPI finished barely higher on Friday following gains from the automobile producers and chemicals, while the financial sector was mixed.

For the day, the index perked 0.52 points or 0.01 percent to finish at 3,748.89. Volume was 414.13 million shares worth 17.13 trillion won. There were 669 decliners and 221 gainers.

Among the actives, Shinhan Financial collected 0.55 percent, while KB Financial rose 0.26 percent, Hana Financial retreated 1.26 percent, Samsung Electronics perked 0.20 percent, Samsung SDI surged 6.88 percent, LG Electronics gathered 0.36 percent, SK Hynix rallied 2.87 percent, Naver tumbled 1.92 percent, LG Chem skyrocketed 8.65 percent, Lotte Chemical strengthened 1.53 percent, SK Innovation gained 0.69 percent, POSCO Holdings jumped 2.27 percent, SK Telecom shed 0.55 percent, KEPCO soared 6.22 percent, Hyundai Mobis fell 0.32 percent, Hyundai Motor added 0.41 percent and Kia Motors improved 0.72 percent.

The lead from Wall Street is positive as the major averages opened lower on Friday and hugged the line before rallying midday to finish solidly in the green.

The Dow jumped 238.41 points or 0.52 percent to finish at 46,190.61, while the NASDAQ climbed 117.47 points or 0.52 percent to end at 22,679.97 and the S&P 500 added 34.94 points or 0.53 percent to close at 6,664.01.

The strength that emerged on Wall Street came as the concerns about bad loans that dragged the markets lower on Thursday seemed to evaporate as quickly as they materialized.

Stocks also benefited from easing concerns about the trade dispute between the U.S. and China following comments from President Donald Trump, who admitted that the high tariffs he threatened to impose on China are probably not sustainable.

Crude oil prices rose on Friday after Trump suddenly reversed his hardline stance on China, suggesting warmer trade relations could lead to an increase in energy demand. West Texas Intermediate crude for November delivery was up by $0.20 or 0.35 percent at $57.66 per barrel.