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S. Korea's stock market cap hits new high

The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Wednesday. (Yonhap)
The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Wednesday. (Yonhap)
The value of stocks traded on South Korea's main bourse has reached an all-time high on the back of a recent market rally, data showed Thursday.

The market capitalization of listed companies in Asia's fourth-largest economy came to a new high of 2,220.7 trillion won ($1.99 trillion) as of Wednesday, according to the data from the Korea Exchange.

The amount was about 8 trillion won more than the previous record posted on Jan. 25.

The country's main stock market has been bullish with the benchmark Korea Composite Stock Price Index (Kospi) gaining 0.42 percent to finish at 3,182.38 on Wednesday.

The fresh record resulted mainly from the strong showing by newcomer SK Bioscience Co., a South Korean vaccine maker that produces the AstraZeneca vaccine at its plant in South Korea.

The market cap of the unit of No. 3 conglomerate SK Group stood at 10.3 trillion won as of Wednesday after making a splash in its debut on the main bourse in mid-March.

Meanwhile, the market value of the tech-laden Kosdaq market amounted to a new high of 417.1 trillion won as of Wednesday.

The combined value of the main and minor stock markets thus reached a fresh record high of 2,637.8 trillion won, compared with the previous record of 2,612.6 trillion won on Jan. 25, according to the data. (Yonhap)

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