Tuesday, January 17, 2006

ASIA MARKETS: South Korea's Kospi Top Asia Performer In 2005

HONG KONG (Dow Jones) - Asian markets closed out a stellar year Friday with benchmark indexes in South Korea, Pakistan and Japan chalking up some of the biggest gains of any markets in the world.

The South Korean Kospi index was the star, adding 54% to close the year at 1, 379.37. The only global index to fare better was Istanbul, which is up 59.5% for the year with several hours of trading still to go.

South Korea's gains were fueled by a range of factors, including the apparent improvement in relations with North Korea and a strengthening economy.

Pakistan's KSE-100 index finished the year up 53.7%, attracting strong interest from foreign funds even after a devastating earthquake.

Tokyo's benchmark Nikkei 225 closed the year up 40.2%. The Nikkei has rallied almost uninterrupted for seven consistent months to notch the single best yearly performance since the go-go days of the mid 1980s.

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