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Published on 8 May 2017
코스피 또 새역사, 사상 최고치 기록
Korea's benchmark KOSPI hit another historic high... on strong buying from foreign investors and high hopes for economic stimulus from the new government in Seoul after the election.
Korea's benchmark KOSPI hit another historic high... on strong buying from foreign investors and high hopes for economic stimulus from the new government in Seoul after the election.
Our Ji Myung-kil has more. Korea's main stock index, the KOSPI, closed at an all-time high on Monday for the second straight day, rising to just over 2-thousand-2-hundred-92.
The stellar performance comes on the back of a boost in foreign buying after the French election concluded with centrist Emmanuel Macron defeating far-right nationalist Marine Le Pen.
Macron's victory has also alleviated concerns about the possibility of France exiting the EU.
Other factors included the improved jobs data out of the U.S. in April, U.S. stock futures jumping up to a record high and a surge in international oil prices.
Market analysts added that the main stock index was also pushed up by foreign investors who net purchased 481 million U.S. dollars ahead of Tuesday's presidential election, on hopes of greater political stability with the incoming administration.
Shares of the market heavyweight Samsung Electronics also hit a record high, ending up 3-point-3 percent.
Chip giant SK Hynix was also up zero-point-seven percent.
The Korean won ended the day at just over 11-hundred-31 won against the greenback, down 1-point-3 won from the previous session's close.
Korea’s tech-heavy Kosdaq closed at 643-point-39, up more than one percent.
Ji Myung-kil, Arirang News.
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