November 17, 2020 11:19
The Korea Composite Stock Price Index on Monday closed above 2,500 points for the first time in three years as its record-breaking bull run continued.
The rise was powered by foreign buying thanks to the weakening dollar and a huge boost from the U.S. presidential election results and hopes of a coronavirus vaccine. The KOSPI closed up 1.97 percent at 2,543.03 points, the highest since Feb. 1 in 2018.
So far this month the KOSPI has soared 12.2 percent and is approaching the all-time high of 2,598.19 points set on Jan. 29 in 2018.
The junior Kosdaq also closed up almost one percent at 846.33 points.
Meanwhile, the Korean won is strengthening steadily against the U.S. dollar. It closed up W6.3 on Monday at W1,109.3 to the dollar, the strongest since Dec. 4 in 2018.
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