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Biz News Korea(Eng)
Kospi climbs over fresh closing milestone of 2,500
- Collected
- 2017.10.31
- Distributed
- 2017.11.01
- Source
- Go Direct
The market has been on a roll throughout the year except for a few interruptions from North Korean provocations. The benchmark Kospi surged 5.3 points or 0.21 percent from the previous trading session to finish at a fresh historic high of 2,501.93 on Monday. The index also renewed an all-time record for intraday trading by hitting the 2,510 mark.
The Kospi has been flirting with the new milestone since Friday in just three months after the index topped 2,400 for the first time in closing on July 13.
The benchmark index gained traction to safely land above 2,5000 due to rally in major world indices including New York Stock Exchange lifted by technology firms as well as rising international oil prices. Shares of Samsung Electronics Co. and SK Hynix Inc., the two largest companies on the Kospi, were also positively affected strong technology shares in the U.S.
On the main bourse on Monday, foreign investors net purchased 281.8 billion won ($250.8 million) worth of shares and retail investors 260.8 billion won, driving the overall surge in the index. Institutional investors, meanwhile, net sold 522 billion won in stocks.
By Choi Jae-won and Lee Eun-joo
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