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KOSPI Rebounds, Ending 6-Day Losing Streak

Written: 2019-08-08 18:18:00Updated: 2019-08-08 19:50:16

KOSPI Rebounds, Ending 6-Day Losing Streak

Photo : YONHAP News

The benchmark Korea Composite Stock Price Index(KOSPI) ended higher for the first time in seven trading sessions on Thursday.

The KOSPI gained ten-point-90 points, or point-57 percent, to close the day at one-thousand-920-point-61. 

On the opening bell, the index jumped 16-point-57 points or point-87 percent and at one point in the day reached as high as one-thousand-937-point-95.

An analyst at Hana Financial Investment said that investment sentiment appears to have improved based on expectations that Japan's export restrictions may not be as stringent as initially anticipated and since the U.S.-China trade war is not likely headed to a more extreme situation.

Individuals purchased 278 billion won worth of stocks while foreign and institutional investors unloaded about 140 billion won worth of shares respectively.​ 

The tech-heavy KOSDAQ also rose on Thursday, gaining 20-point-80 points, or three-point-68 percent, to close at 585-point-44. 

Institutions bought 47-point-six billion won worth of shares which was offset by sales from foreigners and individuals.

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