Stock Market Jumps 21 Points

Yesterday, the KOSPI jumped over 21 points, finishing with a close near the 760 point mark.

Foreigners investors took an active role in purchasing stocks in the Seoul Exchange Market, causing the KOSPI to increase by 21.73 points, closing the market with 757.89 points. This figure was the highest since September 18.

In the market, as news of President Roh Moo-hyun’s new appointment proposal was reported, there was criticism that it may have caused a ‘positive’ influence or ‘possibilities of causing anxiety’ among the stock market.

Investors and analysts showed much attention on the influence President Roh’s ‘new appointment proposal’ will have on the stock market.

On October 9, the DOW rose to the year’s highest value, owing to the expectations of a recovering employment market, and observations that it will help Korea’s economy took a positive effect.

Japan’s NIKKEI stock average, centering on the exports, turned back on a sharp rally, improving the investment mentality.

Foreign investors net purchased 3.135 billion won, raising the stock price. The transacted bills totaled yesterday was 290 billion 500 million won, drawing close to 300 billion in just a month.

Samsung Electronics, which has the highest stock market price, soared and in addition, banks and security companies also rose.

Kang-Woon Lee Jung-Eun Lee kwoon90@donga.com lightee@donga.com