South Korea's stock market is likely to see modest gains in the coming week on hopes of ffurther stimulus measures, an analyst said. Over the week to January 2 the KOSPI gained 39.54 points or 3.5 percent to close at 1,157.40 on Friday.
"The market is expected to rise further, helped by stimulus measures, but the gain will not be so big," Dongbu Securities analyst Lim Dong-Min told AFP.
He said there would be no strong New Year rally as the market has already reflected most of the positive factors in December. "Stocks will likely move without much direction until the fourth-quarter earnings season kicks off in the middle of January," Kim Seung-Han, an analyst at HI Investment and Securities, told Dow Jones Newswires. The two analysts said the index would move between 1,000 and 1,200 points in the near term.