Kosdaq Jumped over 90 Points

The composite index of Kosdaq continued to rise for 7 consecutive days, standing over 90 points for the first time in 17 months, and the composite stock exchange index maintained its bull market recording over 870 points during the day.

The total volume of the Kosdaq transaction marked over 70 trillion won for the first time in past 2 years and the total transaction volume of the exchange market was 396 trillion 698 billion won, approaching 400 trillion won.

The Kosdaq index closed at 91.78 points on 18th, which is 2.43 points (2.72 percent) up from the previous day and is the highest point since October 9th, 2000 (92.61).

The composite stock exchange index also jumped to 869.81, 9.35 points up, which is the highest point since April 10th, 2000 (870.17).

The market price surged up 878.32, challenging the 880 line, at the beginning of the market, but the surging trend was deterred by the sales for marginal profit by the short-term hike.

The transaction price of Kosdaq firstly exceeded 3 trillion won since August 3rd when 3 trillion 139 billion won was recorded. And the transaction volume of the stock exchange market was 5 trillion 105.8 billion won.

Seo Myung-Seok, the director of investment strategic team of Dongyang Securities Co. Ltd., anticipated that “while the rise of stock price continues, indexes does not show a sign of overheated market. Therefore, the rising trend is likely to continue for a while.”

Chan-Sun Hong hcs@donga.com