SEOUL: Seoul shares and the won rose by midday Friday as investors’ risk appetites improved after rallies in global stock markets and sharp rebounds in oil prices.
The Korea Composite Stock Price Index (KOSPI) was up 1.2 per cent at 1,931.56 points as of 0213 GMT, rising for a fourth straight session. Gainers outnumbered losers by 4.8 to 1.
For the week, the index was up more than 3 per cent, so set to snap a streak of five straight weekly losses.
Seo Myung-chan, a stock analyst at Kiwoom Securities, said higher volatility can last until investors know when the Federal Reserve will start raising US interest rates. “Today’s rebound doesn’t mean all uncertainties are resolved including the timing of Fed’s rate hike,” Mr Seo said.
