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KOSPI Renews Record High, Closes at 2,489.54

Written: 2017-10-20 15:45:04Updated: 2017-10-21 08:29:52

KOSPI Renews Record High, Closes at 2,489.54

The benchmark Korea Composite Stock Price Index(KOSPI) renewed its record high for the third time this week, closing Friday at two-thousand-489-point-54. The KOSPI rose by 16-point-48 points or point-67 percent. 

Following the news Friday that an independent state committee recommended the construction of the Shin Kori five and six nuclear reactors resume, prices of stocks related to nuclear reactors rose while stock prices of new and renewable energy dropped. However, reactor-related stocks closed down or gave up most of their gains at the end of the day on profit-taking. Renewable energy stocks recovered on expectations that the Moon Jae-in government's policy to reduce nuclear power generation in the long run will stay intact. 

The tech-heavy KOSDAQ also rose, gaining five-point-85 points, or point-88 percent. It closed the day at 672-point-95. 

On the foreign exchange market, the value of the local currency strengthened one-point-four won against the U.S. dollar, closing at one-thousand-131 won.

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