The South Korean stock market is expected to gather ground this week as foreign investors are anticipated to continue their buying rally, analysts said.

The benchmark Korea Composite Stock Price Index edged up 0.4 percent on Friday from a week earlier, closing at 2011.80.

Earlier last week, Seoul shares gathered ground as the Federal Reserve decided to keep its current quantitative easing moves in place during the Federal Open Market Committee meeting held a week earlier.

The growth, however, was limited throughout the week due mainly to the rising financial uncertainties from the U.S. as the Democrat and Republican parties are at odds over the country’s budget plans and debt-ceiling issue.

Seoul shares gathered ground Friday following the report that the number of new applicants for unemployment benefits in the U.S. came to 305,000 cases, lower than the market estimate of 327,000, which shows signs of a recovery in its job market. 

(Yonhap News)