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South Korea: Stocks rally as investors bet on more China stimulus

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The Seoul stock market's main Kospi ended up 39.02 points, or 1.84 per cent, at 2,157.90, posting its steepest daily gain since Jan 9, 2019.[SEOUL] South Korean shares rallied on Tuesday on increasing bets that China would roll out more stimulus measures to counter the economic fallout from coronavirus.

The Seoul stock market's main KOSPI ended up 39.02 points, or 1.84 per cent, at 2,157.90, posting its steepest daily gain since Jan 9, 2019. China is likely to come up with additional measures to provide liquidity and boost consumption, after it injected a total of US$242.74 billion on Monday and Tuesday, said Seo Sang-young, an analyst at Kiwoom Securities.

China's central bank said on Tuesday its huge liquidity injections through open market operations this week showed its determination to stabilise financial market expectations and restore market confidence.

 

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