Seoul stocks set to extend gains next week on trade deal optimism - The Korea Times
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Seoul stocks set to extend gains next week on trade deal optimism

South Korean stocks are expected to continue to rise next week on improved investor sentiment amid a looming trade deal between the United States and China, analysts said Saturday.

The country's benchmark, the KOSPI, closed at 2,170.25 points Friday, up 4.2 percent from a week ago, breaking the 2,170 level for the first time since May 7, when it ended at 2,176.99 points.

Market watchers predicted the country's stock market would maintain its upward momentum in the coming week as the deal would avert U.S. tariffs on Chinese imports.

Suh Sang-young, an analyst at Kiwoom Securities Co., said investor appetite for risky assets could buoy the local stock market next week following reports that the U.S. and China are nearing a trade deal.

He expected the KOSPI to trade in the range of 2,150 to 2,200 points next week.

Huh Jae-hwan, a strategist at Eugene Investment Co., said foreign buying could push up the KOSPI index next week, citing their comeback this week.

Foreign investors bought a net 1 trillion won this week, after heavily unloading local stocks worth 5.2 trillion won for 21 straight sessions in the Nov. 7-Dec. 5 period. (Yonhap)

South Korean stocks are expected to continue to rise next week on improved investor sentiment amid a looming trade deal between the United States and China, analysts said Saturday.

The country's benchmark, the KOSPI, closed at 2,170.25 points Friday, up 4.2 percent from a week ago, breaking the 2,170 level for the first time since May 7, when it ended at 2,176.99 points.

Market watchers predicted the country's stock market would maintain its upward momentum in the coming week as the deal would avert U.S. tariffs on Chinese imports.

Suh Sang-young, an analyst at Kiwoom Securities Co., said investor appetite for risky assets could buoy the local stock market next week following reports that the U.S. and China are nearing a trade deal.

He expected the KOSPI to trade in the range of 2,150 to 2,200 points next week.

Huh Jae-hwan, a strategist at Eugene Investment Co., said foreign buying could push up the KOSPI index next week, citing their comeback this week.

Foreign investors bought a net 1 trillion won this week, after heavily unloading local stocks worth 5.2 trillion won for 21 straight sessions in the Nov. 7-Dec. 5 period. (Yonhap)


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