The KOSPI index has surpassed the 2800 level during trading for the first time since last July. Following the expectations due to the new government’s inauguration, the 'honeymoon rally' continues today, just like the previous day.
As of 10:04 a.m., it is up 38.70 points (1.40%) from the previous transaction, recording 2809.54. This is the first time the index has surpassed the 2800 level during trading since July 19 of last year (2802.68).
Foreign investors are driving the index up by purchasing a net 325.3 billion won worth of securities in the market. In contrast, individuals and institutions are selling a net 272.1 billion won and 40.4 billion won worth of securities, respectively.
The sharp rise in the stock market today is interpreted as a result of the domestic political uncertainties following the state of emergency last December being resolved with the new government's inauguration, as well as strong expectations for the new government's policy drive, including the processing of the commercial law amendment and the revitalization of the capital markets.