KOSPI Breaks 2,050 Points
kpride, April 9, 2015, 9:45 a.m.
The Korea Composite Stock Price Index surpassed the psychologically important 2,050-point level on Wednesday to close at 2,059.26, the first time since September. The KOSPI closed up 0.6 percent. The junior Kosdaq also rose 0.18 percent to 668.03, levels last seen in January 2008, before the global financial crisis.
Foreign and institutional investors led the rise. Investor sentiment got a boost on expectations that the Fed would delay raising interest rates until the end of this year, while Samsung's earnings surprise on Tuesday fueled hopes that major listed companies are recovering.
Kang Byung-mo at the Korea Exchange said, "If the KOSPI stays above 2,050 points, which had been considered the key barrier for the past four years, we expect further growth momentum to be quite high."