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Biz News Korea(Eng)
Korean stock market to keep up bull run in 2018, topping 2,800: poll
- Collected
- 2017.12.26
- Distributed
- 2017.12.27
- Source
- Go Direct
In the outlook survey compiled by the Maeil Business Newspaper on 20 brokerage houses, the majority of 75 percent bet the Korea composite stock price index to break 2,800 threshold. Six pointed to a range of 2,800 to 2,900, and another six from 2,900 to 3,000. Three predicted the index to pass 3,000 milestone.
The index would be rising 15 percent from Friday’s close of 2,440.54 if it reaches 2,800 and 23 percent upon hitting 3,000.
The secondary Kosdaq has bigger room to grow with experts placing the index to hover from 900 to 1,000, up 18 percent to 31 percent from Friday’s close of 761.2.
Most - 45 percent - predicted the two primary markets to peak in the second quarter. The others pointed to the third quarter as growth will likely slow in the latter part of the year once European central banks join the tightening campaign.
The stable recovery pace in the global economy, bullish U.S. market from corporate tax cut, weaker U.S. dollar, and stronger Chinese currency all feed optimism for the Korean equity market, said Seo Young-ho, head of research at KB Securities
“The gains will likely even out next year, but the main index itself may lose steam, said Yoon Hee-do, head researcher at Korea Investment & Securities.
Analysts generally predicted the emerging markets excepting China to outperform other regional equity markets.
By Shin Heon-cheol and Cho Jeehyun
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]