Seoul shares expected to make limited gains next week


0

South Korean stocks are expected to move in a tight range next week as investors await the US Federal Reserve’s rate decision amid ongoing trade talks between Washington and Beijing, analysts said Saturday.

The benchmark Korea Composite Stock Price Index closed at 2,176.11 points Friday, up 1.8 percent from a week earlier.

The index rose for four days except Wednesday following heavy losses the previous week.

Investors kept a close watch on the latest developments in US-China trade negotiations and chaos surrounding Britain’s exit from the European Union, its key trading bloc.

Reporters stand by at the Korea Exchange on Friday, as prosecutorial officials raid the bourse over its alleged involvement in Samsung BioLogics’ accounting fraud case. (Yonhap)

Samsung BioLogics tumbled 8.6 percent this week amid prosecutors’ widening probe into the firm’s alleged accounting fraud.

Banks, insurance and telecoms were among the top gainers, while bio, machinery and utilities were at bottom.

“If the US Federal Reserve takes a dovish stance in the upcoming meeting, it could boost appetite for riskier assets,” Ahn Jin-a, an analyst at eBEST Investment & Securities, said.

“Investors will continue to closely monitor news from trade talks between the United States and China, which could affect South Korea’s export prospects.”

The next Federal Open Market Committee meeting is slated for March 19-20, with market watchers widely expecting to take a dovish stance amid global economic uncertainties.

(Yonhap)


Like it? Share with your friends!

0

What's Your Reaction?

hate hate
0
hate
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win
Choose A Format
Story
Formatted Text with Embeds and Visuals
Video
Youtube, Vimeo or Vine Embeds
List
The Classic Internet Listicles
Open List
Submit your own item and vote up for the best submission
Countdown
The Classic Internet Countdowns
Poll
Voting to make decisions or determine opinions
Ranked List
Upvote or downvote to decide the best list item
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Meme
Upload your own images to make custom memes
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format