KOSPI rises for 13 consecutive sessions on Tuesday, marking its longest winning streak
- 5 years ago
코스피 13거래일 연속 상승 '역대 최장'…2,250선 '턱밑'
South Korea's benchmark KOSPI rose for the 13th consecutive session today - the longest ever winning streak.
Analysts point to more foreigners buying Korean shares.
Our Ko Roon-hee explains.
In Tuesday's session, Korea's benchmark KOSPI closed at around 22-49,... up 0-point-26 percent.
This marks the highest close in more than 6 months.
It was the 13th session of gains in a row for the KOPSI, tying a record set back in 1984.
As for why, analysts point to more investment by foreigners.
They bought around 135-and-a-half million U.S. dollars' worth of shares on Tuesday... for a total during this streak of gains worth around 2-point-2 billion.
Market watchers say foreign investors were upbeat for several reasons.
"The U.S.-China trade tensions are easing. Also, global economic indicators are showing signs of a rebound. And most importantly, we should look at monetary policy. Countries including the U.S. are holding their interest rates steady. This is having a positive impact on the stock market."
Others point out, though, that this is not necessarily good for the market overall.
"This buying is concentrated in certain companies... like Samsung Electronics, SK hynix and Samsung Electro-Mechanics. So the consecutive rises don't mean that the overall stock market is improving."
Meanwhile, Korea's tech-heavy, junior index, the KOSDAQ, closed at around 7-hundred-65... down 0-point-23 percent.
The Korean currency closed at around 1-thousand-1-hundred-and-36 won against the U.S. dollar, up more than 2 won from the previous close.
Ko Roon-hee, Arirang News.
South Korea's benchmark KOSPI rose for the 13th consecutive session today - the longest ever winning streak.
Analysts point to more foreigners buying Korean shares.
Our Ko Roon-hee explains.
In Tuesday's session, Korea's benchmark KOSPI closed at around 22-49,... up 0-point-26 percent.
This marks the highest close in more than 6 months.
It was the 13th session of gains in a row for the KOPSI, tying a record set back in 1984.
As for why, analysts point to more investment by foreigners.
They bought around 135-and-a-half million U.S. dollars' worth of shares on Tuesday... for a total during this streak of gains worth around 2-point-2 billion.
Market watchers say foreign investors were upbeat for several reasons.
"The U.S.-China trade tensions are easing. Also, global economic indicators are showing signs of a rebound. And most importantly, we should look at monetary policy. Countries including the U.S. are holding their interest rates steady. This is having a positive impact on the stock market."
Others point out, though, that this is not necessarily good for the market overall.
"This buying is concentrated in certain companies... like Samsung Electronics, SK hynix and Samsung Electro-Mechanics. So the consecutive rises don't mean that the overall stock market is improving."
Meanwhile, Korea's tech-heavy, junior index, the KOSDAQ, closed at around 7-hundred-65... down 0-point-23 percent.
The Korean currency closed at around 1-thousand-1-hundred-and-36 won against the U.S. dollar, up more than 2 won from the previous close.
Ko Roon-hee, Arirang News.