KOSPI closes at 2,598.19 after breaking 2,600 mark during trading
- 6 years ago
Korea's main bourse -- the KOSPI -- zeroed in on the 26-hundred closing mark on Monday for the first time ever,... on strong foreign and institutional buying.
The bullish trend doesn't seem to be slowing down either,... with market watchers still optimistic over strong global economic growth.
Kim Mok-yeon reports.
"Korea's benchmark KOSPI index has hit another record high for the third trading day in a row, breaking the 2,600 mark on Monday."
After peaking at a record high of 2,607 during trading hours, the benchmark KOSPI closed at 2,598.19, still managing to continue its upward streak for five consecutive days.
The new intraday record comes just three months after the index broke the 2,500 mark, which is a month shorter than what it took to break the 2,500 mark from 2,400.
Most large caps traded mixed, with market heavyweight Samsung Electronics and carmaker Hyundai Motors gaining 0.87 percent and 1.31 percent respectively.
Shares of the nation's leading chipmaker SK Hynix and steelmaker POSCO edged down by less than 1 percent each.
By sector, gains were evident in most industries such as pharmaceuticals, electronics, construction and securities.
An expert in the industry attributed the rise to both internal and external factors such as continued corporate earnings and strong gains on Wall Street last week, adding that the upward trend would likely continue for the year 2018 and beyond.
"With the Olympics and some peace talks that's happening and also the continuation of strong growth, and strong export numbers, so all that combined, we think that our target of 2,900 is very reachable, and it might even overshoot within this year."
As for Korea's junior index, the tech-heavy KOSDAQ, also reached a record high on Monday, closing at 927.05 up 1.53 percent from the previous session's close.
Kim Mok-yeon Arirang News.
The bullish trend doesn't seem to be slowing down either,... with market watchers still optimistic over strong global economic growth.
Kim Mok-yeon reports.
"Korea's benchmark KOSPI index has hit another record high for the third trading day in a row, breaking the 2,600 mark on Monday."
After peaking at a record high of 2,607 during trading hours, the benchmark KOSPI closed at 2,598.19, still managing to continue its upward streak for five consecutive days.
The new intraday record comes just three months after the index broke the 2,500 mark, which is a month shorter than what it took to break the 2,500 mark from 2,400.
Most large caps traded mixed, with market heavyweight Samsung Electronics and carmaker Hyundai Motors gaining 0.87 percent and 1.31 percent respectively.
Shares of the nation's leading chipmaker SK Hynix and steelmaker POSCO edged down by less than 1 percent each.
By sector, gains were evident in most industries such as pharmaceuticals, electronics, construction and securities.
An expert in the industry attributed the rise to both internal and external factors such as continued corporate earnings and strong gains on Wall Street last week, adding that the upward trend would likely continue for the year 2018 and beyond.
"With the Olympics and some peace talks that's happening and also the continuation of strong growth, and strong export numbers, so all that combined, we think that our target of 2,900 is very reachable, and it might even overshoot within this year."
As for Korea's junior index, the tech-heavy KOSDAQ, also reached a record high on Monday, closing at 927.05 up 1.53 percent from the previous session's close.
Kim Mok-yeon Arirang News.