South Korea’s benchmark Korea Composite Stock Price Index(KOSPI) has surged to its highest rate in 23 months during midday trading on Thursday.
 
The KOSPI rose to two-thousand-155-point-91 points, up 22-point-91 points from Wednesday's closing as the U.S. Fed's assurance that further rate increases will be gradual eased the minds of investors.
 
It is the first time the main bourse index surpassed two-thousand-150 points since April 29th of 2015.
 
The U.S. Fed’s long-awaited decision to raise its key rate on Wednesday has eased market uncertainty around the world, leading the U.S. Dow Jones to rise 112-point-73 points, or zero-point-54 percent.
 
Kim Yong-gu, an analyst with Hana Financial Investment, said the U.S. Federal Open Market Commmitte’s reassurance of a gradual and discrete monetary policy has been boosting a rally on the KOSPI.
 
Kim said the KOSPI could rise further, mentioning the defeat of anti-immigrant nationalists at the just-finished Dutch election.
 
As of 11:00 a.m., the KOSPI moved to slightly below two-thousand-150 points.