KOSPI Surpasses 2,000 Points
kpopluv, March 4, 2015, 8:35 a.m.
The Korea Composite Stock Price Index surpassed the psychologically important 2,000-point level on Tuesday as China's interest rate cuts and quantitative easing by the EU buoyed investor sentiment. It was the first time in five months that the KOSPI broke the barrier.
The KOSPI closed up 0.23 percent at 2,001.38. The junior Kosdaq also rose 0.61 percent to 625.64, the highest since June 2008. Investor sentiment had been bearish at the start of this year, but the mood shifted thanks to favorable external conditions.
First, concerns over Greece leaving the eurozone and declining global oil prices eased. Now the central banks of Europe and China have embarked on expansionary measures, including quantitative easing and slashing interest rates, prompting investors to seek riskier assets.