The South Korea stock market has moved lower in consecutive trading days, sliding more than 15 points or 0.7 percent along the way. The KOSPI now rests just above the 2,255-point plateau, although it may find traction on Friday.
The global forecast for the Asian markets is firm thanks to optimism over the latest batch of minutes from the FOMC. The European and U.S. markets were up and the Asian bourses figure to open in similar fashion.
The KOSPI finished modestly lower on Thursday following weakness from the telecoms and utilities, while the financials and technology stocks were mixed.
For the day, the index slid 7.91 points or 0.35 percent to finish at 2,257.55 after trading between 2,243.90 and 2,274.74. Volume was 342.6 million shares with 5.06 trillion won. There were 578 decliners and 240 gainers.
Among the actives, Shinhan Financial added 0.23 percent, while Woori Bank skidded 0.91 percent, KB Financial jumped 1.54 percent, Hana Financial collected 0.12 percent, POSCO advanced 1.31 percent, SK Telecom shed 0.22 percent, Samsung Electronics lost 0.65 percent, LG Electronics was up 0.13 percent, SK Hynix advanced 1.41 percent, LG Display perked 0.83 percent, Korea Electric Power tumbled 1.40 percent, Kia Motors gathered 0.51 percent and Hyundai Motor spiked 1.67 percent.
The lead from Wall Street is positive as stocks opened higher on Thursday, faded in the late morning but regrouped in the afternoon to end near their highest levels of the day.
The Dow added 181.92 points or 0.75 percent to finish at 24,356.74, the NASDAQ jumped 83.75 points or 1.12 percent to 7,586.43 and the S&P gained 23.39 points or 0.86 percent to 2,736.61.
The late rally was in response to the minutes of the Fed’s June meeting, which said the Federal Reserve intends to press ahead with interest rate hikes despite