KOSPI May Spin Its Wheels On Monday

(RTTNews) - The South Korea stock market has finished higher in two of three trading days since the end of the four-day losing streak in which it had plummeted almost 600 points or 11 percent. The KOSPI now sits just above the 5,375-point plateau although it may be stuck in neutral on Monday.

The global forecast for the Asian markets is lean on catalysts as many of the markets around the world were closed for Good Friday. Stubbornly high oil prices and continued conflict in the Middle East deal the Asian markets a soft lead for Monday.

The KOSPI finished sharply higher on Friday following gains from the technology stocks and chemicals, while the financial shares and automobile producers were mixed.

For the day, the index surged 143.25 points or 2.74 percent to finish at 5,377.30 after trading between 5,316.42 and 5,419.45. Volume was 1.12 billion shares worth 22.13 trillion won. There were 664 gainers and 224 decliners.

Among the actives, Shinhan Financial perked 0.11 percent, while KB Financial lost 0.68 percent, Hana Financial shed 0.63 percent, Samsung Electronics soared 4.47 percent, Samsung SDI skidded 1.02 percent, LG Electronics sank 0.46 percent, SK Hynix surged 5.54 percent, Naver improved 0.87 percent, LG Chem added 0.83 percent, Lotte Chemical vaulted 1.52 percent, SK Innovation rallied 2.34 percent, POSCO Holdings jumped 1.91 percent, SK Telecom expanded 3.98 percent, KEPCO tanked 2.30 percent, Hyundai Mobis fell 0.26 percent, Hyundai Motor accelerated 1.18 percent and Kia Motors dipped 0.27 percent.

There is no lead from Wall Street as the markets were shuttered for Good Friday.

Tensions remain high as the conflict in the Middle East wraps up its fifth week, with no end in sight. Reports of a U.S. jet downed in Iranian territory have compounded the chaos in the region.

The resulting surge in crude oil prices continues, with the commodity over $112 per barrel at last report as Iran maintains control of the Strait of Hormuz.

Limiting the downside, the Labor Department said on Friday that employment in the U.S. jumped more than expected in March, while the jobless rate eased to 4.3 percent from 4.4 percent.