(RTTNews) - The South Korea stock market has moved lower in back-to-back sessions, sliding almost 10 points or 0.5 percent along the way. The KOSPI now rests just beneath the 2,155-point plateau although it may find traction on Wednesday.
The global forecast for the Asian markets is mixed to lower, with tech shares offering mild support against pessimism regarding a trade deal between the United States and China - as well as plummeting crude oil prices. The European and U.S. markets were mostly lower and the Asian bourses figure to follow that lead.
The KOSPI finished modestly lower on Tuesday as losses from the industrials were offset by support from the financials and a mixed picture from the technology stocks.
For the day, the index lost 7.45 points or 0.34 percent to finish at 2,153.24 after trading between 2,137.01 and 2,154.41. Volume was 814 million shares worth 5.4 trillion won. There were 561 decliners and 280 gainers.
Among the actives, Shinhan Financial collected 0.11 percent, while KB Financial spiked 2.05 percent, Hana Financial advanced 0.97 percent, LG Electronics jumped 1.38 percent, LG Display rose 0.56 percent, LG Chem was up 0.47 percent, SK Hynix dipped 0.23 percent, POSCO dropped 0.88 percent, SK Telecom added 0.41 percent, KEPCO climbed 0.90 percent, Hyundai Motors lost 0.79 percent, Kia Motors fell 0.46 percent and Samsung Electronics was unchanged.
The lead from Wall Street is murky as stocks showed a lack of direction Tuesday, bouncing back and forth across the unchanged line before eventually ending the session mixed.
The Dow shed 102.24 points or 0.36 percent to 27,933.98, while the NASDAQ rose 20.72 points or 0.24 percent to 8,570.66 and the S&P 500 fell 1.85 points or 0.06 percent to 3,120.18.
Stocks initially moved to the upside amid recent upward momentum, which has helped propel stocks to record highs amid unshakable optimism about a potential U.S.-China trade deal. Buying interest waned shortly after the start of trading, however, with disappointing results from Home Depot (HD) offsetting the positive sentiment.
In economic news, the Commerce Department noted a substantial rebound in new residential construction and building permits in October.
Crude oil prices plunged sharply on Tuesday amid rising concerns about excess supply in the market and uncertainty about the U.S. and China trade deal. West Texas Intermediate Crude oil futures for December ended down $1.84 or 3.2 percent at $55.21 a barrel.
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