KOSPI Nears 620 Level

The Korea Composite Stock Price Index (KOSPI) came close to 620 level.

The KOSPI neared the highest figure of this year (627.45 point), jumping to 618.96 point by 18.42 points, 3.07 percent up, on 21st.

The KOSDAQ index also turned to the rising trend, and closed at 83.81 point, increased by 0.78 point (0.94 percent).

At Monday`s rally, foreign investors led the stock market with net purchasing of 180.7 billion won. And personal purchases of construction stocks and financial stocks followed, which in turn recorded the highest volume of trade of this year (0.7 501 billion). And total trading value recovered 3 trillion won level, recording 3 trillion 141.6 billion won.

The investment sentiments were spurred by the news that the NASDAQ index rose for 4 consecutive days, and MOODY`S international credit rating institution, launched the on-site investigation.

That Morgan Stanley MSCI index expanded the portion of Korean companies that had an considerable effect on the rise of items which were newly enlisted or whose portions that expanded.

All items showed the rising tendency, and especially the stocks of construction firms increased sharply 8.94 percent by the policy for revitalization of construction business that was announced on Sunday.

Meanwhile, in KOSDAQ market, construction firms increased over 4 percent, but there were fluctuations all over the items.

Lee Cheol-Yong lcy@donga.com