Investors are buying into Korean technology and automotive stocks today amid hopes for reassuring reports. Morgan Stanley has raised its 12-month target on the Kospi to 1650 from 1340, further helping sentiment. KB Financial is up 3%, Samsung Electronics up 1.6% and Kia Motors up 5%. The Kospi is up 1.5% at the moment.
In Sydney the ASX200 is up 1.4% with retailers and resources leading. BHP +2.3%, RIO +2.4%. Retailers such as Harvey Norman and Woolworths are also both up over 2% as the market anticipates good sales numbers from these companies.