KOSPI Closes at Record High of 2,458.16

Write : 2017-10-11 15:55:07 Update : 2017-10-11 16:32:10

KOSPI Closes at Record High of 2,458.16

The benchmark Korea Composite Stock Price Index(KOSPI) on Wednesday closed at a record high of two-thousand-458-point-16, up 24-point-35 points, or one percent, on the strength of the global economy and foreign net purchases. 

The previous high was two-thousand-451-point-53 on July 24th. Wednesday’s close was also an intraday high.

Analysts said a strong global stock market and a slight ease in North Korean risks during the ten-day long Chuseok holiday boosted the KOSPI.

Foreign investors net purchased 446-point-five billion won worth of stocks in the main bourse while private investors were net buyers of 48-point-point-four billion won of stocks. Institutional investors net sold 532-point-six billion won of stocks. 

The tech-heavy KOSDAQ also rose, gaining seven-point-72 points, or one-point-18 percent. It closed the day at 662-point-31. 

On the foreign exchange market, the value of the local currency weakened point-one won against the U.S. dollar, closing at one-thousand-135-point-two won.

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