(Bloomberg) -- South Korea's Kospi index closed
above 2,000 for the first time after Moody's Investors Service
raised the nation's debt rating and the central bank reported
the fastest economic growth in 18 months. Shinhan Financial
Group Ltd. led lenders higher.
``It's a positive development, one in a series of events
that show risk is receding and will eventually help Korea be
acknowledged as a developed, rather than emerging, market,''
said Yoo Byung Ok, who oversees $2.7 billion at Mirae Asset
Investment Management Co. in Seoul. ``The GDP figures confirmed
that growth will speed up in the second half, and that the
market's gain is supported by fundamentals.''
Read more at Bloomberg Stocks News
above 2,000 for the first time after Moody's Investors Service
raised the nation's debt rating and the central bank reported
the fastest economic growth in 18 months. Shinhan Financial
Group Ltd. led lenders higher.
``It's a positive development, one in a series of events
that show risk is receding and will eventually help Korea be
acknowledged as a developed, rather than emerging, market,''
said Yoo Byung Ok, who oversees $2.7 billion at Mirae Asset
Investment Management Co. in Seoul. ``The GDP figures confirmed
that growth will speed up in the second half, and that the
market's gain is supported by fundamentals.''
Read more at Bloomberg Stocks News
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