S. Korean stocks seen extending rally after presidential election
If history is any indicator, expect a post election bump
Past market data suggests that South Korea’s stock market is likely to extend its rally following Tuesday’s election.
Citing market data on the bourse’s performance in the first year of office of the last six presidents, Yonhap reports that market watchers expect solid gains for the benchmark Korea Composite Stock Price Index (KOPSI) going forward.
Yonhap says local stock prices on average surged 23.18% after a new chief executive was sworn into office — though in some cases the market did backtrack in the very first month of a presidency.