South Korean share prices are likely to be range-bound or undergo a correction after this week's gains locally and overseas, analysts said Friday. Lee Jin-Woo of Mirae Asset Securities said the market is expected to move little next week unless there is positive news about the world economic situation.
"As there seems to be no significant upside momentum in the market, the KOSPI will move around 1,070 points next week. The resistance level will be 1,100 at best," he told Dow Jones Newswires.
Over the week to Friday the KOSPI gained 72.34 points or 7.2 percent to end at 1,076.07. "After this week's rise at home and abroad, a correction is inevitable. Supply and demand will not be smooth next week," said Dongbu Securities analyst Lim Dong-Min.
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