South Korea Stocks Poised for Further Gains After KOSPI's 3.29% Rally, Central Bank Decision Awaited

South Korea's stock market may extend Wednesday's gains, with the KOSPI expected to see additional upside Thursday on positive global sentiment. The index finished sharply higher on Wednesday, rallying 182.92 points, or 3.29%, to close at 5,735.66 after peaking at 5,816.43. The advance continued bargain hunting after last week's selloff and was led by financial, technology and automobile shares. Volume was 214.35 million shares worth 17.16 trillion won, with 487 decliners and 372 gainers. The global forecast for Asian markets is positive on easing oil prices and upbeat earnings news. On Wall Street, the Dow rose 0.69% to 52,856.09, the NASDAQ gained 1.05% to 26,702.86 and the S&P 500 added 0.58% to 7,757.17. West Texas Intermediate crude fell 0.71% to $97.13 per barrel on reports of progress in Strait of Hormuz shipping traffic. The Bank of Korea concludes its monetary policy meeting later today and is expected to hold its benchmark rate at 3.00%.