EU summit results to impact Seoul stocks

Korean stocks will be influenced by the results coming out of the European Union's (EU) summit meeting scheduled for late next week that could help determine the future of the euro monetary union, local analysts said Saturday.

The country's key stock index, the KOSPI, closed at 1,847.39 on Friday, a drop of 0.57 percent or 10.77 points from the week before. The decrease marks the first time in five weeks that the bourse lost ground on a weekly basis, and was brought on by disappointment over the U.S. Federal Reserve's lukewarm economic bolstering program and weak data for the U.S. and Chinese economies.