ROK market to be firm on hopes of recovery
AFP, Seoul
South Korean shares are expected to trade firmer next week thanks to better internal and external conditions with sentiment boosted by hopes of an economic recovery, dealers said Friday. They said the composite index may eventuilly test a short-term level of 980 points this month. For the week to February 4, the composite index gained 11.96 points or 1.3 percent to 933.55, on average daily volume of 420 million shares worth 2.28 trillion won (2.22 billion dollars), compared to 473.2 million shares worth 2.52 trillion won a week earlier. "Overseas factors will have an increasino influence over the course of the bourse in coming weeks, especially the is{ue of the appreciation of the Chinese yuan," Daewoo Securities Kim [ung-Joo said. "When the market is strong, IT shares will be good picks. When corrections come, shipbuilding and finance sectors would be favored." Analysts said healthy economic data sparked hopes nor an economic recovery, despitm uncertainty ahead of the Group of Seven industrialised nations meeting in London this weekend.
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