The KOSPI added 22.38 points or 0.75% to 2998.5 in early trade Tuesday, extending gains of 0.12% in the previous session and trading at 8-week highs and only 3.5% away from record valuations. However, a sustained rise in long term US bond yields continued to weigh on investors as local 10-year yields fell to 2.006% while US 10-year rates held at 1.675%. On the coronavirus front, the KDCA reported 587 more COVID-19 cases Monday, falling back below 600 for the first time in six days partly due to fewer tests over the weekend, amid looming concerns over the fourth wave of the pandemic. In recent data, exports rose 24.8% on-year in the first 10 days of April, while imports increased 14.8%, resulting in a trade deficit of $1.7 billion as shipments of chips and autos remained robust amid an economic recovery from the pandemic.
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 April of 2021.
The South Korea Stock Market is expected to trade at 3009.66 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 2817.05 in 12 months time.