Analysts are warning that rebounding stock prices in South Korea could again fall later this month.

According to the sources in the financial industry on Tuesday, eight securities companies estimated in their monthly outlook reports that the bottom of the trading range of the benchmark Korea Composite Stock Price Index(KOSPI) would stand at an average of one-thousand-755. 

Shinhan Investment Corporation and Daishin Securities predicted the bottom of the trading range to stand at one-thousand-700, the lowest among the eight securities firms. 

With the exception of Kiwoom Securities, which forecast the bottom of the trading range to be one-thousand-800, seven of the securities companies predicted that the KOSPI would slip again to the early or mid-one-thousand-700 range.

The figures support analyse that the easing of measures implemented following the COVID-19 outbreak could add to market uncertainty rather than improving market sentiment. However, some reports pointed to a possible rebounding of the index later in May.