Analysts see narrow move for SoKor stocks next week

SEOUL, Nov. 7 – South Korean stock prices are likely to move within a narrow range in the coming week with little upward momentum predicted for equities, analysts said Saturday.

"Stock prices are expected to remain range-bound next week," said Samsung Securities analyst Kim Seong-bong, citing worse-than-expected U.S. job data that casts a shadow on global economic recovery.

Cautious trading is also forecasted ahead of a policy meeting by South Korea's central bank on Thursday.

Last month, Bank of Korea left its key interest rate at a record low of two percent for the eighth consecutive month as the nation struggled with its worst economic slump in a decade.

Over the week, the benchmark KOSPI fell 0.52 percent to 1,572.46.

Trading volume was thin at about three trillion won (USD2.6 billion) a day. (PNA/Yonhap)

LBV/CJT/rsm

Similar Posts:

• Seoul stocks open weaker on BOK rate caution
• Interest rate hike is 'not far away': BOK chief
• S. Korea's producer prices rise in Dec. for 1st time in 8 months
• Bank of Korea freezes key rate for 9th monthBy Kim Soo-yeon
• Gov't reaffirms BOK's independence on monetary policy