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KOSPI Hits Six-Year High before Closing up 0.5% at 2,207.84

Written: 2017-04-26 16:00:13Updated: 2017-04-26 16:09:32

KOSPI Hits Six-Year High before Closing up 0.5% at 2,207.84

The benchmark Korea Composite Stock Price Index(KOSPI) hit a six-year high during mid-day trading on Wednesday before losing ground to close up ten-point-99 points at two-thousand-207-point-84 on the back of strong buying from foreign investors.
 
During mid-day trading, the KOSPI reached as high as two-thousand-210-point-17, breaking the two-thousand-210 threshold for the first time since May 2011. 
 
Analysts say the recent foreign buying spree is being driven by favorable export indicators, upgrades in South Korea's economic growth forecasts and an ease in uncertainties over North Korea risks.
 
The tech-heavy KOSDAQ also rose two-point-54 points, or point-four percent, to close at 635-point-11.
 
On the foreign exchange market, the value of the local currency strengthened zero-point-three won against the U.S. dollar, closing at one-thousand-125-point-one won. 

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