Seoul shares likely to see tough days

South Korea's stock market is likely to see another tough week but downward momentum is expected to lessen following recent sharp corrections, dealers said on Friday. Market sentiment is being depressed by high oil prices, concerns over the US credit crunch and possible Chinese interest rate rises, they added.
"The market is likely to be volatile in accordance with US and domestic economic data due to be issued in the coming week," Lee Woo-Hyun of Kyobo Securities told AFP.
"However, falls will be limited as prices have fallen too fast over the past few weeks," he said, noting that foreigners had been reducing their selling orders. For the week to November 23, the benchmark index fell 153.32 points or 7.96 percent to close at 1,772.88. "It is premature to expect a meaningful up trend in the KOSPI," he said.