Seoul shares to move sideways next week: analysts

SEOUL, Nov. 8 (Yonhap) -- South Korean stocks are largely expected to see limited movement next week due to a lack of market-moving leads and fatigued investor sentiment, analysts said Saturday.

The benchmark Korea Composite Stock Price Index (KOSPI) closed this week at
1,134.49, up 1.93 percent from the previous week. The outcome of the U.S.
presidential election and collective government efforts to boost liquidity in
global markets buoyed investor sentiment.
Market watchers are taking a conservative view of next week's prospects, and are
widely expecting investors to lay low amid forecasts that stress from the credit
crunch may spill over to the real economy.
"The parade of policy measures finished last week and there seems to be no engine
to move the market for now," said Lee Seung-woo, an analyst at Daewoo Securities.

Stocks may draw a "monotonous" path next week, Lee said, noting that the key
index is unlikely to fall below the 1,000 mark.
Recent marginal gains are only the start of the larger rebound the market is
waiting for, said Kim Jung-hyun, an analyst at Goodmorning Shinhan Securities.
"The 1,000 level will act as a floor for the time being, but stronger gains may
be wishful thinking for now as we are seeing a supply vacuum in the market," Kim
said.