BUSINESS

Seoul shares may test 2,520 next week on eased uncertainties

By Yonhap
  • Published : Dec 16, 2017 - 10:46
  • Updated : Dec 16, 2017 - 12:04

outh Korean shares could rise next week on eased market uncertainties, analysts said Saturday.

The benchmark Korea Composite Stock Price Index (KOSPI) is expected to test 2,520 next week. The main index rose 0.73 percent for the whole of this week. 

(Yonhap)

The U.S. Federal Reserve marked up its key rates for the third time this year to 1.5 percent on Wednesday, although, having been expected, the move had little impact on the overall market.

Political tensions between Seoul and Beijing over a U.S. missile defense system in South Korea have also started showing signs of easing.

Such development haven given a boost to the KOSPI index, analysts said.

"Companies which heavily rely on sales in China are set to improve from recent declines in coming weeks. The broader index is also expected to move mainly into positive territory next week," Park Choon-young, an analyst at Daishin Securities Co., said.

On Friday, top carmaker Hyundai Motor Co. ended up 2.33 percent at 154,000 won and leading steelmaker POSCO closed 0.91 percent higher at 333,500 won. (Yonhap)



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