KOSPI Due For Profit Taking On Tuesday

(RTTNews) - The South Korea stock market rebounded on Monday, one session after ending the four-day winning streak in which it had surged almost 290 points or 4.4 percent. Now at a fresh record closing high, the KOSPI sits just above the 6,615-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is unclear amid uncertainties surrounding the conflict in the Middle East. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference. The KOSPI finished sharply higher on Monday following gains from the technology stocks and automobile producers, while the financial sector came in mixed. For the day, the index rallied 139.40 points or 2.15 percent to finish at 6,615.03 after trading between 6,529.19 and 6,657.22. Volume was 835.6 million shares worth 33 trillion won. There were 495 gainers and 357 decliners. Among the actives, Shinhan Financial fell 0.30 percent, while Hana Financial collected 0.57 percent, Samsung Electronics rallied 2.28 percent, Samsung SDI dropped 0.94 percent, LG Electronics jumped 1.96 percent, SK Hynix soared 5.73 percent, Naver added 0.47 percent, LG Chem tanked 3.07 percent, Lotte Chemical plunged 4.65 percent, SK Innovation retreated 1.88 percent, POSCO Holdings gained 0.60 percent, SK Telecom tumbled 2.00 percent, KEPCO sank 0.76 percent, Hyundai Mobis spiked 2.37 percent, Hyundai Motor accelerated 2.14 percent, Kia Motors dropped 0.52 percent and KB Financial was unchanged.

The lead from Wall Street is murky as the major averages opened mixed on Monday and hugged the line throughout the session before ending on oppositive sides.

The Dow sank 62.92 points or 0.13 percent to finish at 49,167.79, while the NASDAQ climbed 50.50 points or 0.20 percent to close at 24,887.10 and the S&P 500 rose 8.83 points or 0.12 percent to end at 7,173.91.

The choppy trading on Wall Street came as traders seemed reluctant to make significant moves amid a lack of clarity about the situation in the Middle East after U.S.-Iran peace talks stalled over the weekend.

Traders are also likely to keep an eye on the Federal Reserve's monetary policy decision scheduled for Wednesday. While the Fed is widely expected to leave interest rates unchanged, the central bank's accompanying statement may provide clues about the outlook for rates.

Crude oil prices soared on Monday after the proposed U.S.-Iran negotiations were called off by the U.S. as supply disruption concerns continue. West Texas Intermediate crude for June delivery was up $2.32 or 2.46 percent at $96.72 per barrel.