S. Korean shares likely to trade in tight range next week

SEOUL, Feb. 13 (Yonhap) -- South Korean shares are likely to move in a tight
range next week on increased uncertainties at home and abroad, analysts said
Saturday.

The country's key stock index, the KOSPI, gained 26.54 points, or 1.69 percent,
this week to close at 1,593.66 on Friday.
The index fell to the 1,550-point level earlier this week on growing concerns
over Greece's debts.
"Although concerns over the Greek debt problem have eased, unease over the issue
remain," said Lee Seung-woo, an analyst at Daewoo Securities. "Investors took to
the sideline on still lingering uncertainties."
China also unexpectedly boosted bank reserve requirements on Friday, which will
also sap market sentiment, he said.
U.S. stocks closed mixed Friday as China's move fueled concern that growth in the
world's fastest growing economy may cool.
The Dow Jones Industrial Average dropped 0.4 percent, to close at 10,099.14 on
Friday, but the technology-heavy Nasdaq Composite Index added 0.28 percent, to
2,183.53.
The People's Bank of China said on its Web site that the reserve requirement for
Chinese banks will increase 50 basis points effective Feb. 25. The central bank
on Jan. 12 increased banks' reserve requirements for the first time since June
2008.
sam@yna.co.kr
(END)

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