S. Korean stocks to face continued correction next week

SEOUL, Feb. 6 (Yonhap) -- South Korean stocks are expected to continue to slide
next week as woes over sovereign debt in the Eurozone dampen market sentiment,
analysts said Saturday.

The country's benchmark index, the KOSPI, plunged 3.05 percent on Friday to end
at 1,567.12, hitting a two-month low, as foreign investors dumped tech and
financial shares amid increased concerns over debt contamination spreading from
Greece into other countries such as Portugal and Spain.
"There could be a kind of technical rebound next week, but the market is forced
to come under selling pressure," said Lee Seung-woo, an analyst at Daewoo
Securities.
Other analysts said markets may continue trading weakly for the next couple of
months, possibly until the end of the first half.
U.S. stocks closed higher Friday, erasing a 2-percent drop in the final hour of
trading.
The Dow Jones Industrial Average rose 10.05 points to 10,012.23 and the
tech-laden Nasdaq Composite Index gained 15.69 points to close at 2,141.12.
sam@yna.co.kr
(END)

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