KOSPI regains 2,000 level on foreign buying

KOSPI regains 2,000 level on foreign buying

South Korea’s benchmark Korea Composite Stock Price Index broke through the psychologically important 2,000-point level this month, mainly on the back of brisk foreign buying, industry data showed Friday.

Offshore investors bought a net 1.4 trillion won ($1.23 billion) worth of shares traded on the KOSPI between April 1 and April 21.

In addition, overseas funds poured in 1.5 trillion won into the local stock market via arbitrage trading for five days, starting on April 14, a day after the general election here.

On Thursday, the KOSPI ended 0.81 percent, or 16.27 points, higher to 2,022.10 to mark the highest close this year. It is also the first time since Dec. 1 that the KOSPI finished above the 2,022 level.

On Friday, the benchmark index opened lower following overnight losses on Wall Street.

The KOSPI shed 0.36 percent, or 7.30 points, to 2,014.80 in the first 15 minutes of trading.

Source:  http://www.koreaherald.com/view.php?ud=20160422000495

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