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South Korea: Stocks jump on global stimulus hopes
[SEOUL] South Korean shares rebounded on Monday after a steep drop last week, on expectations of a cut in interest rates this month by the US Federal Reserve to help cushion the economic impact from the coronavirus outbreak.
Interest rate futures markets now see a 100 per cent probability of the Fed cutting interest rates at its meeting this month, with the only question being how large it would be.
The Seoul stock market's main KOSPI rose 15.50 points, or 0.78 per cent, to 2,002.51.
The KOSPI has fallen 8.88 per cent so far this year, having lost 10.9 per cent in the previous 30 trading sessions.
The trading volume during the session in the KOSPI was 516.11 million shares. Of the total traded issues of 906, 568 shares advanced.