The KOSPI closed at 5,234.05 on Thursday after a significant drop of 244.65 points, or 4.47 percent. This decline continued a four-day losing streak that saw the index fall nearly 600 points, or 11 percent. The market is now positioned just above the 5,240-point level, with some analysts predicting a technical rebound on Friday. Global market forecasts for Asian markets remain mixed, influenced by conflicting signals regarding the Middle East conflict. The European markets were down, while U.S. markets were mixed and flat, suggesting that Asian markets may follow a similar trajectory. The KOSPI's sharp decline on Thursday was driven by losses in the financial, technology, chemical, and automobile sectors. Trading volume reached 1.42 billion shares, valued at 32.95 trillion won, with 814 stocks declining and 90 gaining. Key performers included Shinhan Financial, which fell 1.71 percent, and Samsung Electronics, which dropped 5.91 percent. Conversely, Samsung SDI rose 2.55 percent and SK Innovation gained 0.87 percent. The U.S. market provided a mixed lead, with the Dow Jones Industrial Average closing down 0.13 percent, the NASDAQ up 0.18 percent, and the S&P 500 rising 0.11 percent. For the holiday-shortened week, the NASDAQ saw a 4.4 percent increase, the S&P 500 rose 3.4 percent, and the Dow gained 3 percent. Initial concerns about a potential escalation in the Middle East conflict, following President Donald Trump's address, contributed to early weakness on Wall Street. However, stocks recovered after a report indicated that Iran and Oman are drafting a protocol to monitor transit through the Strait of Hormuz. Crude oil prices surged by 11.93 percent, with West Texas Intermediate crude for May delivery reaching $112.06 per barrel.
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