KOPSI May Extend Its Winning Streak

(RTTNews) - The South Korea stock market has finished higher in consecutive trading days, gathering more than 280 points or 3.1 percent in that span. The KOSPI now sits just above the 6,090-point plateau and it may tick higher again on Thursday.

The global forecast for the Asian markets is murky, with profit taking warring with support from the oil and technology sectors. The European and U.S. markets were mixed and the Asian bourses are expected to behave similarly.

The KOSPI finished sharply higher on Wednesday following gains from the financial shares, technology stocks, chemicals and industrials.

For the day, the index jumped 123.64 points or 2.07 percent to finish at 6,091.39 after trading between 6,064.23 and 6,183.21. Volume was 915.03 billion shares worth 31.37 trillion won. There were 570 gainers and 273 decliners.

Among the actives, Shinhan Financial vaulted 1.53 percent, while KB Financial collected 1.48 percent, Hana Financial rose 0.25 percent, Samsung Electronics jumped 2.18 percent, Samsung SDI perked 0.11 percent, LG Electronics elevated 1.83 percent, SK Hynix spiked 2.99 percent, Naver soared 4.71 percent, LG Chem rallied 3.66 percent, Lotte Chemical climbed 1.13 percent, POSCO Holdings expanded 1.80 percent, SK Telecom advanced 2,72 percent, Hyundai Mobis surged 2.59 percent, Hyundai Motor accelerated 3.36 percent, Kia Motors strengthened 1.54 percent and SK Innovation and KEPCO were unchanged.

The lead from Wall Street provides little clarity as the major averages opened higher on Wednesday, although the Dow splintered off and finished slightly under water.

The Dow shed 72.27 points or 0.15 percent to finish at 48,463.72, while the NASDAQ jumped 376.93 points or 1.59 percent to end at a record 24,016.02 and the S&P 500 gained 55.57 points or 0.80 percent to close at 7,022.95, also a record.

The extended surge by the NASDAQ reflected strength among tech stocks, with Broadcom (AVGO) helping to lead the sector higher after the chip maker announced a multi-year strategic partnership with Meta's (META).

Traders also expressed optimism about a resolution of the conflict in the Middle East even as they await additional details about another round of peace talks between the U.S. and Iran.

Crude oil edged higher on Wednesday as traders weighed the prospects of success in the upcoming U.S-Iran talks against the ongoing U.S. blockade on all Iranian ports across the Strait of Hormuz, which is keeping the supply concerns alive. West Texas Intermediate crude for May was up $0.36 or 0.39 percent at $91.64 per barrel.