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Trading volume has been soaring in the tech-heavy Kosdaq this month. According to the Korea Exchange, daily trading volume averaged W2.74 trillion this month, more than triple that of last October (W872.5 billion, US$1=W1,337) right after the Lehman Brothers bankruptcy. On Tuesday, the Kosdaq broke the 1-billion share mark in trade, an all time high.
With the surge in trading, the index increased by 40.05 percent since March 1, the second highest growth rate among major countries after Russia (48.3 percent).
The ratio of trading by individual investors rose 5.28 points to 93.03 percent from 87.75 percent last October. Over the same period, the ratio of foreign investors declined by 5.34 points, and that of institutional investors edged up only 0.29 points.
As of Tuesday, deposits grew to W15.69 trillion, close to the all-time high of W15.77 trillion on July 18, 2007. Yoon Se-wuk of Meritz Securities said, "Investors have been pulling money out of funds, and customers' deposits in securities firms are increasing because individual investors want to invest directly in the stock market before it's too late." But experts urge caution, saying the Kosdaq is overheating.
(englishnews@chosun.com )
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