As eurozone finance ministers have decided to provide help to Greece, anxiety over its possible default and impact on the world could be eased, possibly giving yet another boost to market sentiment.
But investors will likely stay more focused on what decisions are made during the summit talks among European Union leaders on Sunday to see if whether they have a strong will to tackle the current challenges, analysts said.
During the talks, the leaders are likely to discuss detailed plans to help Greece and strengthen the European Financial Stability Facility, the EU's bailout fund, among other things. They are also scheduled to have another round of talks on Wednesday.
"The market direction next week will be determined by investors' response to the outcome of the EU summit talks," said Lee Seung-woo, an analyst at Daewoo Securities.
He added that the recent upward trend is attributed in part to expectations about the EU summit talks, but the expectations could be easily replaced by disappointment if the leaders fail to come up with concrete measures.. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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