(RTTNews) – The South Korea stock market has finished lower in back-to-back trading days, sliding more than a dozen points or 0.6 percent along the way. The KOSPI now rests just above the 2,215-point plateau and it may extend its losing streak on Friday.
The global forecast for the Asian markets is negative on disappointing economic data and sliding oil prices. The European and U.S. markets were down and the Asian bourses figure to open in similar fashion.
The KOSPI finished modestly lower on Thursday as losses from the technology stocks were tempered by support from the automobile producers and mixed performances from the financials and chemical companies.
For the day, the index shed 12.47 points or 0.56 percent to finish at 2,216.19 after trading between 2,202.99 and 2,227.24. Volume was 920 million shares worth 16.1 trillion won. There were 597 decliners and 271 gainers.
The lead from Wall Street is weak as stocks showed a lack or direction on Thursday before moving sharply lower as the day progressed.
The Dow tumbled 353.51 points or 1.31 percent to finish at 26,652.33, while the NASDAQ plunged 244.71 percent or 2.29 percent to end at 10,461.42 and the S&P sank 40.36 points or 1.23 percent to close at 3,235.66.
The weakness on Wall Street followed the release of some disappointing U.S. economic data, including a Labor Department report showing first-time claims for U.S. unemployment benefits increased for the first time in sixteen weeks.
A separate report from the Conference Board showed its reading on leading U.S. economic indicators increased by less than expected in the month of June.
Crude oil futures settled lower Thursday, extending losses from the previous session amid rising concerns over excess supply in the market and the outlook for energy demand. West Texas Intermediate Crude oil futures settled at $41.07 a barrel, losing $0.83 or 2 percent.