South Korean share prices are expected to take a side step in the coming week as investors remain cautious despite easing concerns about a global credit crunch, dealers said Friday.
"Jitters have eased over a global credit crunch but investors are still cautious," Dongbu Securities analyst Lim Dong-Min said. For the week to August 31, the benchmark KOSPI index gained 82 points, or 4.5 percent, to 1,873.24 Friday.
"Its uncertain that the market will pick up again or undergo a short-term correction next week, with investors awaiting a US Fed meeting," Lim said. "The market, however, will see a steady rise if there are signs of a cut in US interest rates. Other factors will be monetary policies in Europe, Britain and South Korea," he said.
Kyobo Securities analyst Lee Jong-Woo said that given its rapid recovery, the market may lose some steam early next week, especially with no leads coming from the US market which will be closed Monday.
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