South Korean stocks are expected to continue to build up gains next week as foreign investors hold on to their buying binge of local stocks amid improving global liquidity circumstances, analysts said Saturday.

The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,146.1 points on Friday, up 1.9 percent from a week earlier, gaining in four out of five trading sessions this week.

The key index got off to a strong start as foreign investors scooped up shares amid eased volatility in the global financial market. Weaker-than-expected U.S. economic data also sent the KOSPI higher.

Cosmetics firms and brokerage houses helped boost the KOSPI this week.

Industry leader AmorePacific and No.2 player LG Household & Health Care posted solid gains on upbeat outlook for their second-quarter earnings. Local securities firms also got a boost from hopes a recently-eased regulation will spur stock turnover, which in turn boosts their earnings.

The Korea Exchange said it will double the daily stock price movement band to 30 percent from the current 15 percent. The move, set to go into effect June 15, was part of efforts to boost trading and fend off price manipulation, according to the bourse operator.

Analysts forecast the KOSPI to rise gradually next week as global liquidity conditions are expected to remain market-friendly on dovish comments by the Federal Reserve and the European Central Bank.

Minutes from the Federal Open Market Committee released on Wednesday showed that the Federal Reserve is unlikely to start hiking short-term rates in June, as had been expected earlier this year.

Some U.S. economic data, set for release next week, may also solidify that trend if they turn out to be weaker than expected.

“Sluggish U.S. economic data is a factor that heightens the possibility of a delay in rate hikes. It’s a positive factor for the market in short term,” said Ko Seung-hee, an analyst at Daewoo Securities Co.

By sector, Ko forecast shares of pharmaceuticals, cosmetics and brokerages to lead the gains next week.