South Korean stocks are expected to extend their upward momentum next week helped by positive economic indicators at home and abroad, analysts said Saturday.
The benchmark Korea Composite Stock Price Index (KOSPI) finished at 1,846.60 on Friday, up 13.97 points or 0.76 percent from Monday. The market was closed between Tuesday and Thursday due to the Chuseok fall harvest holiday.
A series of economic data, which include the consumer sentiment, trade balance and consumer price index in South Korea; the eurozone economic confidence index; the U.S. Chicago manufacturing index; and China's manufacturing PMI, will be announced next week.
Analysts predicted that the internal and external economic indicators will be positive, leading the KOSPI to continue to rise next week.
"Investors' aggressive access to the market is still available next week given the upbeat outlook on the economic indicators," said Lee Seung-woo, an analyst at Daewoo Securities Co.
Analysts also said that expected strong corporate performances for the third quarter will help the market rise next week.