Seoul bourse likely to trade in narrow range next week: analysts

SEOUL, Feb. 14 (Yonhap) -- South Korean stocks are expected to trade within a
slim range next week as massive stimulus plans across the world are increasingly
overshadowed by persistent economic woes, analysts said Saturday.
"Stimulus plans are pouring out across the world," Kim Joong-hyun, an analyst at
Goodmorning Shinhan Securities said. "They come as people find it hard to see an
end to the global economic downturn."
South Korea's benchmark Korea Composite Stock Price Index (KOSPI) closed the week
at 1,192.44, down 1.49 percent from the previous week, as foreign buyers dumped
stocks for the final four days.
The U.S. Congress gave the go-ahead on Friday (Washington time) to a $787-billion
stimulus package aimed at jump-starting the world's biggest economy.
The bill passed without a single vote of approval from the Republicans, who
warned against excessive spending, while U.S. President Barack Obama eagerly
awaited implementation of the package.
The U.S. is also bracing for a couple of major economic indexes to come out next
week that will show the state of its already badly bruised housing and
manufacturing sectors.
"There's only a gut feeling predicting economic recovery, but nothing substantial
to back it," Ryu Yong-suk, an analyst at Hyundai Securities Co., said.
samkim@yna.co.kr
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