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KOSPI Jumps over 7%

Written: 2020-03-20 15:42:24Updated: 2020-03-20 16:05:43

KOSPI Jumps over 7%

Photo : YONHAP News

South Korean stocks rebounded on Friday as investor sentiment was boosted by a series of stimulus measures and a currency swap deal between Seoul and Washington.

Following an eight-percent plunge the previous day, the benchmark Korea Composite Stock Price Index(KOSPI) gained 108-point-51 points, or seven-point-44 percent, on Friday. It ended the week at one-thousand-566-point-15.  

The tech-heavy KOSDAQ also rose, gaining 39-point-four points, or nine-point-two percent, to close at 467-point-75. 

Trading on the main KOSPI and the secondary market was briefly suspended during midday hours after stock prices soared by more than five percent. 

On the foreign exchange, the local currency strengthened 39-point-two won against the dollar, ending the session at one-thousand-246-point-five won.

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