Photo : YONHAP News
Anchor: South Korea’s benchmark index topped the five-thousand level for the first time during Thursday trading. Although the index narrowed its gains in closing the day’s trade, its bull run comes after surpassing four-thousand in October, and after President Lee Jae Myung’s pledge to help support the nation’s economy and buoy shares.
Our Bae Joo-yon has more.
Report: South Korea’s benchmark Korea Composite Stock Price Index(KOSPI) broke the five-thousand point milestone for the first time during trading Thursday.
Though it closed below five-thousand, the index closed at an all time-high of four-thousand-952-point-53 on Thursday after rising 42-point-60 points, or zero-point-87 percent.
The index has posted growth in all but one of the 15 trading days so far this year.
This month alone, the KOSPI surged 17 and a half percent.
Thursday’s rally came as Samsung Electronics and SK hynix saw shares surge around two percent and as Hyundai Motor shares hit a new intraday record high.
It also followed the news that the U.S. walked back its threat to impose tariffs on eight European countries over Greenland and ruled out using military force to take control of the territory.
When he took office, President Lee Jae Myung pledged to help boost the economy and drive the KOSPI above the five-thousand mark.
Meanwhile, the tech-heavy KOSDAQ climbed more than two percent on Thursday to recover to the 970-point level.
Bae Joo-yon, KBS World Radio News.