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KOSPI Closes at Record High of 2,562.23

Written: 2018-01-25 15:47:57Updated: 2018-01-25 17:19:58

KOSPI Closes at Record High of 2,562.23

The benchmark Korea Composite Stock Price Index(KOSPI) closed at a record high on Thursday on net purchases by foreign and institutional investors. Boosted by strong financial reports for chipmaker SK Hynix and search engine giant Naver, the main bourse rose 24-point-23 points, or point-95 percent, to end the day at two-thousand-562-point-23. 

The tech-heavy KOSDAQ also rose, gaining three-point-83 points, or point-43 percent, to close the day at 898-point-60. 

On the foreign exchange, the local currency strengthened to a three-year high against the greenback after U.S. Treasury Secretary Steven Mnuchin said a weak dollar helps America's trade. The won rose eleven-point-six won against the dollar, ending the session at one-thousand-58-point-six won.

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