Continuous Surge of Stock Price .. Breaking through 770

The stock price has jumped up and up for 5 days breaking through 770 of the composite stock exchange index.

The composite stock exchange index showed a steep rise up to 784 yesterday and closed at 554.68, which is 16.97 points (2.24 percent) raised from the previous day.

The jump of the stock price yesterday was the biggest one since July 21st 2000, when the market was closed at 783.06. The Kosdaq index also rebounded sharply from the down curve of the previous day by 1.46 points (1.95 percent), renewing the highest record of this year.

Foreign investors, who were greatly encouraged by the positive remarks on the U.S. economy by Allen Greenspan, the chairperson of FRB, led the surging streams by purchasing for 320 billion won. And the institutional investors also purchased for 146 billion won concentrating on the program purchase.

All industrial sectors kept a high tone in the exchange market and 550 items of the market went up, which is over twice as many as the downs. Kosdaq also maintained a bullish tendency in almost all items except for some items in the construction and food industries.

Dong-Keun Keum gold@donga.com