South Korean stocks are expected to trade higher this week on abated concerns over a possible reduction in the United States’ quantitative easing moves, analysts said over the weekend.
The benchmark Korea Composite Stock Price Index closed at 1,871.41 points on Friday, down 0.2 percent from the previous week.
Earlier last week, Seoul shares gathered ground after China’s National Bureau of Statistics said its gross domestic product growth rose 7.5 percent on-year in the April-June period. China is the biggest trading partner of South Korea.
The KOSPI also continued to trade bullish over the past week as foreign direct investment in China rose 20.12 percent on-year in June, indicating economic recovery in the world’s No. 2 economy.
However, the growth was limited as investors continued to sit on the sidelines on weak second-quarter earnings by local listed firms. (Yonhap News)
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