S. Korean shares expected to take breather in coming week

SEOUL, Aug. 29 (Yonhap) -- South Korea's stock market is expected to remain in a
tight range next week after this week's sharp rally, analysts said Saturday.

The country's key stock index, the KOSPI, rose 1.7 percent this week to close at
1,607.94 on Friday, led by gains by market heavyweights such as Samsung
Electronics and Hyundai Motor.
Analysts said the pace of the rise would slow down the road as investors attempt
to lock in gains. But hopes for economic recovery may continue, prodding
investors to buy more shares, they said.
"We can expect a slight correction next week as the KOSPI hovered above the
1,600-point level," said Oem Tae-ung, an analyst at Bookook Securities. "However,
the market may attempt to gain further down the road, backed by ample liquidity
and improving corporate earnings."
On Friday, U.S. stocks declined despite upbeat news from Intel and Dell. The
blue-chip Dow Jones Industrial Average slipped 0.38 percent to 9,544.20. The
technology-heavy Nasdaq Composite Index gained 0.05 percent to 2,028.77.
sam@yna.co.kr
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