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Kospi carries on record run on world rallyBy Son Ji-hyoung
Published : May 25, 2017 - 16:19
The Korea Composite Stock Price Index closed at record-high at 2,342.93, rising 1.1 percent compared to Wednesday.
The top-tier stock market opened a tad higher at 2,325.49 compared to record closing Wednesday at 2,317.34. The index began to hover at around 2,340 after a surge until at around 10:20 a.m.
Market bellwether Samsung Electronics ended its two-day slide Thursday. Samsung Electronics closed at 2,284,000 won, up 1.78 percent from Wednesday.
The bull ride took a cue from Wall Street gains Wednesday on favorable market reactions to the Fed‘s sign of raising the interest rates soon.
Local reports, however, pointed to a dwindling trade volume of individual investors in the local stock markets and subsequent over-reliance on offshore and institutional investors. Individuals traded 2.19 trillion won worth of shares per day this year, down from 2.25 trillion won in 2016 and 2.89 trillion won in 2015, according to data from the Korea Exchange.
Local currency strengthened against the greenback. The Won was traded at 1,116.6 won against the dollar, up 6.4 won, or 0.57 percent from the previous day at around 3:30 p.m. Thursday.
By Son Ji-hyoung (firstname.lastname@example.org)
Articles by Son Ji-hyoung
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