As global markets are preparing for relation, an expansion in the economic output led by the stimulus, Bloomberg came out with their suggestion citing South Korea’s KOSPI as Asia’s most sought-after emerging market.
The report highlights South Korea’s tech-heavy stock market that lured the investor funds at the fastest pace in four years. “At $58 billion, their purchases of local bonds this year are on course for a record. And the won is tussling with the yuan for the region’s No. 1 spot,” the news said additionally.
Bloomberg also takes clues from JPMorgan Chase & Co., Credit Suisse Group AG and Mark Mobius, co-founder of Mobius Capital Partners LLP, to paint a rosy picture for the equities of the Asian giant. That said, the piece also anticipates a 5.5% hike in the yearly exports in 2021, following a 3.3% drop in 2020, to justify the upbeat expectations from KOSPI.
Against this backdrop, the index rises around 1.0% to 2,772.61 after refreshing the all-time high to 2,781.04 during Friday’s Asian trading.
Read: Asian stocks trade mixed even as dollar drops on weak US data
Share
