S. Korean stocks forecast to add to gains next week

SEOUL, July 4 (Yonhap) -- South Korean stocks are expected to extend their
gaining streak next week on better corporate earnings hopes, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) finished at 1,420.04 last
week, up 25.51 points or 1.84 percent, pushed back above the 1,400-point mark.
The key index had been below the 1,400-point mark since June 16.

While some analysts cautioned investors to maintain a conservative investment
strategy in the still uncertain market, there are more hopes in the market that
earnings in the second quarter will turn out better than in the first quarter.
South Korea's listed companies are expected to unveil their second-quarter
results starting from mid-July.
"The country's industrial output, which rose in May for the fifth consecutive
month, assured many investors that the economy is moving in an improving
direction," said Shin Joong-ho, an analyst at Woori Investment & Securities Co.
So Jang-ho, an analyst at Samsung Securities Co., expressed a similar view,
saying the Seoul bourse will hinge on market expectations over second-quarter
earnings.
"The market has now entered the earnings season. As South Korean economic
indicators point to the upward momentum, shares with improving corporate earnings
are expected to lead the gains."
ygkim@yna.co.kr
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