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Financial Services Commission chairman Kim Seok-dong, center, and staff members of the Korea Stock Exchange Market celebrate during the opening ceremony to commence the Year 2013 trading at the Seoul Stock Exchange Tuesday, Jan. 2, 2013.
Financial Services Commission chairman Kim Seok-dong, center, and staff members of the Korea Stock Exchange Market celebrate during the opening ceremony to commence the Year 2013 trading at the Seoul Stock Exchange Tuesday, Jan. 2, 2013.
(Ahn Young-joon/AP)

South Korean equities pick up. Will Canadian miners follow?

One of the best indicators of global economic growth suggests materials stocks have a long way to rally.

The KOSPI, which is the South Korean equity benchmark, is widely used by strategists and economists as a leading indicator of economic growth. It is highly sensitive to changes in the pace of global economic activity because of its proximity to China – South Korea is a major trading hub and ship building center that benefits from Chinese expansion.