The KOSPI moved 57.68 points or 1.8% lower to 3151.31 on Tuesday, retreating from record highs after gains of 2.18% in yesterday’s session amid foreign and institutional profit-taking. Investors also tempered hopes for the quick passage of $1.9 trillion in US stimulus that had boosted sentiment in recent weeks as markets priced in comments from Senate Majority Leader Chuck Schumer that the bill may not be pushed through until mid-March. On the coronavirus front, the country added 354 more COVID-19 cases, as authorities remain on alert over a rise in cluster infections tied to religious facilities. Meantime, preliminary data showed that South Korea’s Gross Domestic Product grew 1.1% on a quarterly basis in the last three months of 2020, while contracting 1.4% on an annualized basis.
Historically, the South Korea Stock Market reached an all time high of 3266.23 in January of 2021. South Korea Stock Market - data, forecasts, historical chart - was last updated on January of 2021.
The South Korea Stock Market is expected to trade at 3082.61 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2885.34 in 12 months time.