KOSPI tops 4,500 for 1st time on techs, brokerages, shipbuilders

Seoul shares jumped more than 1.5 percent Tuesday to close at above the historic milestone of 4,500 on the back of a rise in semiconductors, brokerages and shipbuilders. The Korean won fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 67.96 points, or 1.52 percent, to finish at a new record high of 4,525.48, breaking the 4,500-point mark for the first time. The index broke through the 4,400-point threshold the previous session on continued gains in technology stocks. Trading volume was heavy at 492.84 million shares worth 25.27 trillion won ($17.4 billion), with losers outnumbering gainers 482 to 394. The index opened lower, bucking overnight gains on Wall Street, but later turned higher as retail investors scooped up technology and other large-cap stocks. Individuals bought a net 597.55 billion won worth of shares, offsetting net selling by foreigners and institutions totaling 618.83 billion won and 68.93 billion won, respectively. Foreign investors turned net sellers Tuesday after purchasing more than 2.8 trillion won worth of shares over the pWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times