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Chart of the day: Korea outlook brightens

PUBLISHED : Sunday, 14 May, 2017, 10:31pm
UPDATED : Sunday, 14 May, 2017, 10:31pm

So much has happened on and around South Korea recently that it is hard to know where to start. In terms of financial markets, what we do know is that, despite the sabre-rattling and political drama, the won has strengthened against the US dollar from 1,210 to 1,105 this year. While in line with its Asian peers, its 6 per cent gain is the biggest in the region. Meanwhile, the Korea Composite Index has been building for an upside attack for five consecutive months and has seen a significant break to a record high of 2,323 points this month. This augurs well both for share prices and the economy.

Nicole Elliott is a technical analyst

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