The South Korean stock market is expected to see a volatile week, with its direction dependent on how overseas markets handle major events scheduled in the coming days, dealers said on Friday. The rising won's value against the US dollar was also likely to depress market sentiment, with the IT and automobile sectors expected to suffer the most from a strong won which makes the country's exports more expensive.
"There will be major changes in prices in the coming week but it's hard to predict which direction they will move," said Oh Hyun-Seok of Samsung Securities.
"Investors will watch how overseas markets react to the major events such as the meeting of Opec oil ministers at the weekend, the FOMC (Federal Open Market Committee) and G7 meetings in the coming week," Oh said.
Comments
Comments are closed.