Go to contents

KOSPI returns to 600-point level after 100 days

Posted January. 16, 2001 20:06,   


The composite stock price index, or KOSPI, surpassed the 600-point barrier for the first time in 100 days. The bond yield rate registered its lowest level in history, and the Korean currency appreciated slightly amid the strength of the Japanese yen.

The KOSPI rose by 4.42 points (0.74%) from the previous day to 603.42, breaking the 600-point barrier for the first time since Oct. 6 last year, when it stood at 603.86. The Kosdaq index also increased by 1.19 points (1.55%) to 77.71.

As a result, the combined market value of the Korea Stock Exchange (KSE) and the Kosdaq came to 262 trillion won, an increase of 46.77 trillion won from the end of last year. The total market value of the KSE expanded by 33.144 trillion won to 219.35 trillion won, and that of the Kosdaq rose by 13.63 trillion won to 42.65 trillion won.

Despite massive selling on profit-taking ahead the breakthrough, the stock market continued its bullish tone, mainly thanks to foreign investors¡¯ net purchase of 169.1 billion won.

On the foreign exchange market, the Korean won appreciated by 2.30 won to 1,283.5 won to the U.S. dollar. The rise was largely ascribed to the strength of the yen, which once traded at 117.7 yen per dollar on the Tokyo exchange market, and a reduction in the off-shore purchasing volume.