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Seoul shares forecast to remain in tight range next week

All Headlines 10:00 November 16, 2019

SEOUL, Nov. 16 (Yonhap) -- South Korean shares are expected to remain in a tight range next week as investors take to the sidelines amid ongoing uncertainties over trade talks between the United States and China, analysts said Saturday.

The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,162.18 on Friday, up from 2,137.23 points a week ago.

The index started a weak note on Monday as investors were disappointed by comments by President Donald Trump over a trade deal between Washington and Beijing.

The index then gained by nearly 1 percent on Tuesday, on the back of gains in tech and auto shares before dropping almost 1 percent on Wednesday on renewed concerns over trade talks.

"Investors are likely to take a wait-and-see stance as uncertainties over U.S.-China trade talks are persistent, coupled with the escalating unrest in Hong Kong," Kim Byong-yeon, an analyst at NH Investment & Securities, said.

Kim forecast the main stock index to trade between 2,110 and 2,180 points in the coming week.

khj@yna.co.kr
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