FX.co ★ KOSPI Likely To Find Support At 2,600 Points

The South Korean stock market has experienced a decline over three consecutive sessions, falling nearly 100 points or 3.6 percent. The KOSPI is currently just under the 2,610-point mark, and a slight upward swing is anticipated for Wednesday.

The international outlook for Asian markets proposes limited fluctuation, as interest rate worries compete with bargain hunting. European markets experienced a downturn, U.S. markets showed mixed and flat results, and it's expected that Asian markets will follow this trend.

On Tuesday, the KOSPI faced significant declines across various sectors, especially amongst financial and technology stocks. On this day, the index collapsed 60.80 points or 2.28 percent, ending at 2,609.63. Transactions ranged from 2,601.45 to 2,647.60 with a volume of 557 million shares worth 11.9 trillion won. There were 771 downward movements and 124 upward movements.

Several prominent players, including Shinhan Financial, KB Financial, Hana Financial, Samsung Electronics, and LG Electronics, among others, reported losses. Hyundai Motor and Kia Motors showed slight increases, while SK Telecom remained stable.

The Wall Street lead offers little instruction, given that the primary averages launched inconsistently on Tuesday. With some volatility, they concluded with slight changes.

As traders evaluate whether to purchase stocks at comparatively lower rates, concerns about interest rate prospects persist. After the Federal Reserve issued a report disclosing a steady increase in U.S. industrial production for March, the ten-year note's yield reached its highest intraday levels in nearly half a year.

In addition to interest rate worries, Federal Reserve Chairman Jerome Powell implied in his comments that rates will likely remain high for a longer period due to insufficient progress towards achieving the bank's inflation target.

Uncertainty surrounded crude oil prices on Tuesday. However, they dropped slightly after U.S. Treasury Secretary Janet Yellen announced new sanctions on Iran, as a retaliation to the country's attack on Israel. Consequently, West Texas Intermediate crude for May slipped by $0.05 or 0.1 percent to $85.36 a barrel.