South Korea’s Kospi becomes Asia’s best performing major benchmarks of 2020 – Bloomberg

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