Seoul equities likely to undergo correction

South Korea's stock market is likely to undergo a correction in the coming week, mainly because of jitters over high oil prices, analysts said on Friday.
The KOSPI index ended down 24.30 points or 1.3 percent on Friday to close at 1,823.70. For the week to May 9, the benchmark index fell 24.57 points or 1.3 percent. "The market is likely to experience moderate corrections in the coming week," said Choi Sung-Rak of SK Securities, noting that foreigners, unloaded futures massively on Friday.
"The index may fall to 1,750 points," he said. Oh Hyun-Seok of Samsung Securities said the market was under pressure from fast rises in leading stocks, high oil prices and a weaker won.