KOPSI in Record Close Before U.S. Signals Dampener
17 June, 2021
The Korea Composite Stock Price Index set yet another milestone on Wednesday, nonetheless it may be the last for some time following the Fed threw a spanner in the works of runaway growth.
The KOSPI closed up 0.62 percent in the third record session in a row at 3,278.68 points. At one point in trading it surged to 3,281.96 points, surpassing the previous intraday high of 3,281.96 set on Jan. 11.
The junior Kosdaq also closed up 0.11 percent at 998.49 points after rising to at least one 1,003.43 through the trading session.
The KOSPI soared to six records in January alone and surpassed 3,200 points for the first time ever. It has soared to some other four records so far this month.
Individual investors snapped up a lot more than W50 trillion worth of stocks in the first five months of the year (US$1=W1,117). But because the beginning of the month, foreign investors outpaced individual investors by buying W678 billion worth of stocks.
Analysts said there aren't many potential risks on the top amid a gradual economic recovery, however the Fed down the road Wednesday signaled a sooner-than-expected increase in interest rates, and it remains to be observed how which will affect the markets not merely in Korea but the world over.
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