SEOUL, South Korean stocks are likely to start gradually picking up next week after the recent plunge from U.S. inflation woes, analysts said Saturday, expecting an increase in chip demand and liquidity in the stock market.
The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,921.92 points Friday, down 1.12 percent from a week ago.
Volatility was high in the local financial market this week, tracking its U.S. peers.
Stock prices fluctuated according to the U.S. Federal Reserve officials’ hawkish comments about rate hikes and contracting its balance sheet, as well as the U.S. inflation data that grew at the fastest pace in almost four decades.
Source: Yonhap News Agency