South Korea now ranks among the top three of the Group of 20 major economies in terms of the growth of their main stock indices this year. 

The Korea Composite Stock Price Index(KOSPI) ended Wednesday at a year-high of two-thousand-311-point-86 points, up one-point-four percent from the previous day. 

It is in fact the highest close since the index hit two-thousand-338-point-88 points on October first of 2018 and marked a growth of three-point-seven percent since the beginning of this year. Only two other G20 countries have faster-growing indices. They are Argentina and China, which logged growths of 25-point-two percent and 10-point-five percent, respectively, so far this year. 

It is a significant turnaround from the KOSPI’s free-fall following the COVID-19 outbreak that dragged it down to one-thousand-457-point-64 points on March 19. Since then, the index has risen by 58-point-six percent. 

The Financial Services Commission said the bullish trend reflects growing optimism toward the South Korean economy by global investors, buoyed in part by stimulus policies and effective COVID-19 quarantine measures, expecting more robust growth for Asia’s fourth-largest economy this year compared to many other major economies.