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KOSPI Opens Higher Following Significant US Stock Rebound

Write: 2020-03-25 10:03:37Update: 2020-03-25 10:46:20

KOSPI Opens Higher Following Significant US Stock Rebound

Photo : YONHAP News

Shares in South Korea opened higher on Wednesday following an overnight coronavirus stock rally in the U.S.

As of 9:51 a.m., the benchmark Korea Composite Stock Price Index(KOSPI) was up 43-point-98 points, or two-point-73 percent, from Tuesday’s closing, hitting one-thousand-653-point-95 points. Earlier it gained nearly five-point-five percent from the previous session. 

The Dow Jones Industrial Average jumped 11-point-37 percent on Tuesday, its biggest daily gain since 1933, amid growing optimism that the Trump administration’s stimulus package will pass Congress. 

The KOSPI soared eight-point-six percent on Tuesday buoyed by the U.S. Fed’s announcement on debt-buying programs as well as counter-virus relief measures by South Korean authorities.

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