SEOUL, KOREA - Since the beginning of the new year, Korea's stock market has not escaped the doldrums while all other markets are showing signs of recovery. According to KDB-Daewoo Securities on January 21, the Korean stock market was ranked 70th out of 78 national bourses in terms of performance for the first three weeks in January.
The countries whose stock markets suffered a setback included Malaysia (-0.7%), Bangladesh (-1.2%), Pakistan (-1.8%), Palestine (-1.9%), Slovakia (-2.4%), Ukraine (-3.6%), Morocco (-3.8%), and Cyprus (-4.6%), as well as Korea (-0.5%).
The biggest reason Korea's stock market languishes has to do with the lack of sufficient demand. Of late, foreign investors have sold more shares than bought after showing a strong appetite for Korean shares in early January. Unlike any other markets, the Korean stock market has little to show for in terms of fundamental, which is another reason for foreign investors not to be as much attracted to the Korean market as before.
enews@hankyung.com
enews@hankyung.com
*Article provided by The Korea Economic Daily
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