Stock Price Soared 29 Points Breaking through 930 Point

The composite stock exchange index jumped over 930 point 26 month high after 5 days` rising due to massive purchase of foreign and institution investors. Aggregate value of listed stock was 351 trillion and 25.5 billion won second to 357 trillion and 773.3 billion won on January 4th, 2000.

Kospi on the 17th closed at 930.51 rising by 29.22 point (3.24 percent) from previous day. The index increased by 74.48 point (8.7 percent) for those 5 days, and reached second high from February 11th, 2000(953.22).

Kosdaq composite index closed at 87.43 rising 0.92 point (1.06 percent).

The stock price soared as foreign investors strongly bought blue chips like Samsung Electronics for 265 billion won after two months` rest, and institutional investors joined by purchasing for 274.7 billion won. Two buying forces of foreigners and institutional investors led the market to soaring after a long waiting.

The composite stock exchange index is allegedly to jump over 1000 point range in late April or in early May, because enterprises made a largest profit in the 1st quarter, and businesses are getting better as much as the Bank of Korea considers raising of call rate.

Meanwhile, individual investors sold for 526.3 billion won, which is third largest amount to 594.4 billion won on March 3rd, 2000, and 528.3 billion won on April 1st, 1996.

Customer`s deposit (on the 16th) decreased by 142 billion won at 11 trillion and 604.6 billion won, while uncollected money totaled at 1 trillion and 130.9 billion won decreased by 10.4 billion won.

Chan-Sun Hong hcs@donga.com