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Seoul shares forecast to remain in tight range next week

All News 10:00 January 06, 2018

SEOUL, Jan. 6 (Yonhap) -- South Korean stocks are expected to remain in a tight range next week as investors take to the sidelines amid mixed market-moving events, including the release of the earnings preview by Samsung Electronics, analysts said Saturday.

The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,497.52 points on Friday, up from 2,467.49 points a week ago, as investors scooped up top cap Samsung Electronics and other tech shares.

This week, the local stock market started a tad higher, following gains on Wall Street. On Friday, The Dow Jones industrial average climbed above 25,000 points for the first time.

Next week, investors are expected to take a wait-and-see stance ahead of Samsung Electronics' report on its fourth-quarter earnings guidance on Tuesday, analysts said. A slew of other earnings reports by major firms will follow in the coming days.

The Consumer Electronics Show (CES) which will kick off in Las Vegas on Tuesday for a four-day run could be a positive factor for the Seoul bourse, according to analysts.

"The local market may take a breather next week, but the impact from the fourth-quarter earnings will be limited as investors will be keener on this year's performance," said Kim Byong-yun, an analyst at NH Investment & Securities.


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