South Korea's stock market is expected to fall further next week due to a lack of positive momentum, analysts said Friday. Over the week to November 14 the KOSPI lost 46.23 points or 4.1 percent to close at 1,088.26.
Dongbu Securities analyst Lim Dong-Min said the index may stay below Friday's close due to a lack of positive momentum and on selling by individual investors.
"There will be a further correction in the coming week. Concerns about the financial crisis will persist here despite Wall Street's (Thursday) rebound," he said.
Analysts said investors would closely watch Friday's performance of the US markets. Lee Jae-Mahn, a Tong Yang Securities analyst, said there are still concerns about liquidity conditions in South Korea and about the soundness of the assets of local banks and builders. He told Dow Jones Newswires that investors do not expect a summit of G20 leaders on Saturday to agree on firm steps to ease the financial crisis.