S. Korean stocks may test 1,200-point level next week

SEOUL, March 14 (Yonhap) -- South Korean stocks may extend their recent gains in
the coming week on early signs of stabilization in the U.S. financial sector and
hope for stimulus measures in Japan and China, dealers said Saturday.
Investors should be cautious, however, as concerns about the local currency's
renewed strength may limit foreign investors appetite for buying.
"The likelihood of rising above 1,200 points will depend on the U.S. stock market
and foreign investors," said Kim Joong-hyun, an analyst at Goodmorning Shinhan
Securities.
The benchmark Korea Composite Stock Price Index rose 6.73 percent over the week
to close at 1,126.03 on Friday.
This week, the Bank of Korea froze its key interest rate at a record-low 2
percent, ending a streak of cuts that has lowered the base rate by a total of
3.25 percentage points since October last year.
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