Rebound Expected For South Korea Shares

(RTTNews) - The South Korea stock market on Wednesday ended the two-day winning streak in which it had risen more than 45 points or 0.7 percent. The KOSPI now sits just above the 6,560-point plateau although it's likely to bounce higher again on Thursday. The global forecast for the Asian markets is mixed to higher on optimism over the outlook for interest rates. 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 sharply lower on Wednesday with damage across the board, especially among the technology stocks and automobile producers. For the day, the index plummeted 273.08 points or 3.99 percent to finish at 6,562.72. Volume was 321.2 million shares worth 18.6 trillion won. There were 734 decliners and 137 gainers. The lead from Wall Street is positive as the major averages opened higher on Wednesday and remained firmly in the green throughout the trading day, ending near session highs. The Dow jumped 295.07 points or 0.56 percent to finish at 53,061.95, while the NASDAQ added 118.05 points or 0.45 percent to end at 26,217.83 and the S&P 500 gained 35.13 points or 0.46 percent to close at 7,666.60. The strength on Wall Street reflected bargain hunting following the recent slump, which dragged the S&P 500 down to its lowest levels in nearly a month. Early buying interest was also generated by a pullback in treasury yields. Even as yields bounced well off their early lows, a report from payroll processor ADP showing weaker than expected private sector job growth eased concerns about the outlook for interest rates. Traders may be hopeful that signs of weakness in the labor market will lead the Federal Reserve to refrain from raising interest rates later this month even amid concerns about inflation. Crude oil prices jumped on Wednesday after the U.S. commenced its second round of attacks against Iran to escalate hostilities. West Texas Intermediate crude for October delivery was up $0.97 or 1.08 percent at $91.19 per barrel.

(RTTNews) - The South Korea stock market on Wednesday ended the two-day winning streak in which it had risen more than 45 points or 0.7 percent. The KOSPI now sits just above the 6,560-point plateau although it's likely to bounce higher again on Thursday.

The global forecast for the Asian markets is mixed to higher on optimism over the outlook for interest rates. 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 sharply lower on Wednesday with damage across the board, especially among the technology stocks and automobile producers.

For the day, the index plummeted 273.08 points or 3.99 percent to finish at 6,562.72. Volume was 321.2 million shares worth 18.6 trillion won. There were 734 decliners and 137 gainers.

The lead from Wall Street is positive as the major averages opened higher on Wednesday and remained firmly in the green throughout the trading day, ending near session highs.

The Dow jumped 295.07 points or 0.56 percent to finish at 53,061.95, while the NASDAQ added 118.05 points or 0.45 percent to end at 26,217.83 and the S&P 500 gained 35.13 points or 0.46 percent to close at 7,666.60.

The strength on Wall Street reflected bargain hunting following the recent slump, which dragged the S&P 500 down to its lowest levels in nearly a month. Early buying interest was also generated by a pullback in treasury yields.