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South Korean stocks are likely to edge up this week on hopes that the United States could reach a compromise to avert the fiscal cliff of automatic tax hikes and spending cuts.
South Korea’s key stock index, the KOSPI, finished at 1,957.45 on Friday, up 1.27 percent from a week earlier, as a management reshuffle in Samsung Group, South Korea’s biggest family-owned conglomerate, generated optimism and China reaffirmed its stance of stable economic growth.
Local investors, in addition, are likely to keep a close watch on this week’s meeting of Federal Reserve policymakers.
The Federal Open Market Committee could introduce new measures to replace the so-called Operation Twist, a program to sell short-term Treasury bonds and purchase the same amount of long-term securities. The program of swapping short- for long-term debt is set to expire in December.
Analysts said stocks could rise slightly this week, though the KOSPI is unlikely to surpass the 2,000-point level, citing ongoing U.S. negotiations on the fiscal issue and the holiday season.
Han Chi-hwan, an analyst at KDB Daewoo Securities, called on investors to pay attention to steelmakers and shipbuilders for a short period of time.
Foreigners snapped up a net 760 billion won worth of local shares while retail investors sold off a net 510 billion worth of shares, during last week’s trading session. (Yonhap News)
South Korea’s key stock index, the KOSPI, finished at 1,957.45 on Friday, up 1.27 percent from a week earlier, as a management reshuffle in Samsung Group, South Korea’s biggest family-owned conglomerate, generated optimism and China reaffirmed its stance of stable economic growth.
Local investors, in addition, are likely to keep a close watch on this week’s meeting of Federal Reserve policymakers.
The Federal Open Market Committee could introduce new measures to replace the so-called Operation Twist, a program to sell short-term Treasury bonds and purchase the same amount of long-term securities. The program of swapping short- for long-term debt is set to expire in December.
Analysts said stocks could rise slightly this week, though the KOSPI is unlikely to surpass the 2,000-point level, citing ongoing U.S. negotiations on the fiscal issue and the holiday season.
Han Chi-hwan, an analyst at KDB Daewoo Securities, called on investors to pay attention to steelmakers and shipbuilders for a short period of time.
Foreigners snapped up a net 760 billion won worth of local shares while retail investors sold off a net 510 billion worth of shares, during last week’s trading session. (Yonhap News)
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Articles by Korea Herald
