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S. KOREAN STOCKS EXPECTED TO GAIN GROUND THIS WEEK.
SEOUL, Nov 3 Asia Pulse - South Korean stocks are forecast to gain steam this week, thanks to hopes of trade surplus for October and a possible additional interest rate cut, analysts said Saturday.
However, the market will remain volatile due to fears over possible corporate bankruptcies and an economic slump, they said.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 17.6 per cent last week from the previous week to close at 1,113.06 on Friday as foreign investors snapped up blue chips in line with overnight U.S. gains.
The key index breached the 1,000-mark on Thursday after the Fed announced a currency swap arrangement of up to US$30 billion each with South Korea, Mexico, Brazil and Singapore to help ease dollar funding for major emerging economies amid the global financial crisis.
The local market will be boosted by expectations for trade surplus for October and a possible additional interest rate cut, analysts said.
"The stock market will highly likely to gain ground next week, brushing ...
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Source: HighBeam Research, S. KOREAN STOCKS EXPECTED TO GAIN GROUND THIS WEEK.