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The landslide victory of the main opposition Democratic Party of Korea (DPK) in Wednesdays general elections is likely to dash many of the government s economic policy plans that require the National Assembly s approval for legislative revisions. ....
Korean stocks extended a rally, Thursday, following overnight gains on Wall Street lifted by data showing a slowdown in U.S. inflation. The benchmark KOSPI was also buoyed by the Bank of Korea s (BOK) widely-expected decision of a rate freeze.The macroeconomic data helped the main bourse return to the 2,600-point mark during morning trade. The KOSPI closed up 0.64 percent at 2,591.23 powered by a buying spree by foreign and institutional investors, according to data from the Korea Exchange. The secondary Kosdaq also displayed a more powerful rally, closing at 893.07, up 1.5 percent from a day earlier. ....
Six stocks listed in the Korean stock market have plummeted in value for three consecutive trading days with no apparent reason amid growing suspicion of price manipulation. Shares of Samchully, Daesung Holdings, Seoul Gas, Sebang, Sun Kwang and Daou Data extended losses of more than 20 percent on Wednesday after suffering double-digit falls during the two previous trading sessions, according to data from the Korea Exchange. ....
The Korean stock market is feared to face an adjustment period on escalating fears of recession and conglomerates dismal earnings outlooks. The negative outlook came amid growing skepticism over major firms earnings growth on falling demand for Korea s major export items. ....