(RTTNews) - The South Korea stock market has moved higher in three straight sessions, collecting more than 40 points or 1.6 percent along the way. The KOSPI now sits just above the 2,535-point plateau and it's expected to open in the green again on Wednesday.
The global forecast for the Asian markets is mixed to higher on an improving outlook for interest rates. The European markets were slightly lower and the U.S. bourses were up and the Asian markets are expected to follow the latter lead.
The KOSPI finished modestly higher again on Tuesday following gains from the financial shares and industrials, while the technology stocks were also mostly higher.
For the day, the index gained 9.91 points or 0.39 percent to finish at 2,535.27 after trading between 2,529.74 and 2,543.06. Volume was 365 million shares worth 7.49 trillion won. There were 454 decliners and 409 gainers.
Among the actives, Shinhan Financial rallied 1.50 percent, while KB Financial collected 0.97 percent, Hana Financial strengthened 1.20 percent, Samsung Electronics added 0.68 percent, Samsung SDI slid 0.11 percent, LG Electronics spiked 1.79 percent, SK Hynix jumped 1.63 percent, Naver tumbled 1.84 percent, LG Chem sank 0.74 percent, SK Innovation dropped 0.89 percent, POSCO perked 0.21 percent, SK Telecom eased 0.10 percent, KEPCO fell 0.41 percent, Hyundai Mobis was up 0.22 percent, Hyundai Motor rose 0.11 percent, Kia Motors gained 0.34 percent and Lotte Chemical and S-Oil were unchanged.
The lead from Wall Street is upbeat as the major averages shook off a soft open, quickly moving into the green and finishing well in positive territory.
The Dow advanced 173.01 points or 0.48 percent to finish at 36,577.94, while the NASDAQ jumped 100.91 points or 0.70 percent to close at 14,533.40 and the S&P 500 gained 21.26 points or 0.46 percent to end at 4,643.70.
The strength on Wall Street followed the release of a highly anticipated Labor Department report showing U.S. consumer prices inched up in line with economist estimates in November.
The data has added to optimism about the outlook for interest rates ahead of the Federal Reserve's monetary policy announcement later today.
While the Fed is widely expected to leave interest rates unchanged, traders will be looking to the accompanying statement and projections for signs the central bank could begin cutting rates next year.
Crude oil prices fell to a six-month low Tuesday amid lingering concerns about the outlook for fuel demand and worries about possible oversupply in the market. West Texas Intermediate Crude oil futures for January ended down $2.71 or 3.8 percent at $68.61 a barrel.
