KOSDAQ Set to Extend Bullish Streak as Financial Authorities Plan to Boost Investment

Write : 2017-11-13 16:07:36 Update : 2017-11-13 17:52:16

KOSDAQ Set to Extend Bullish Streak as Financial Authorities Plan to Boost Investment

Anchor: Korea's tech heavy KOSDAQ has been on fire for the past few weeks, and analysts expect the surge to continue as financial authorities work on a plan to boost investment in the market.
Oh Soo-young reports.
Report: Korea's secondary KOSDAQ market is set to continue on an upward swing this year.
The junior bourse closed at 741-point-38 on Monday, up two-point-86 percent from the previous trading session and the highest in 27 months.
The small-cap index surpassed the 700-threshold earlier this month thanks to an upbeat market performance from the country's tech and bio firms.
The easing of South Korea and China's tensions over the depolyment of the U.S. THAAD antimissile system is also believed to have boosted investor sentiment.
The bullish streak is expected to continue with financial authorities mulling a plan to ramp up the KOSDAQ market.
The Financial Services Commission convened a meeting on Monday to discuss various measures to spur investment.
The measures include tax benefits for those who invest in KOSDAQ stocks, an overhaul of listing rules as well as the creation of a fund worth some ten-trillion won for innovative ventures.
The commission plans to consult various experts and organizations before releasing the finalized plan by the end of December.
Over the last six months, the KOSDAQ has gained more than 12 percent. Experts say the index could even surpass the 788-mark, last recorded in 2015, the highest level seen since the 2007 global financial crisis. 
Oh Soo-young, KBS World Radio News.

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