KOSPI hits record on 1st day of trading

By Kim Da-ye

On the first trading day of 2011, Korean stocks soared to 2,070.08, the highest point in the history of the Korean stock market since its opening in 1956.

The benchmark Korea Composite Stock Price Index closed up 19.08 points or 0.93 percent from Dec. 30. It broke the previous record of 2064.85, which was set on Oct. 31, 2007, amid high expectations over a strong performance this year.

The market cap, the value of the entire listed stocks, also rose to the record high of 1,152 quadrillion won.

The Korean won climbed 8.3 won against the greenback to close at 1,126.50. The upbeat mood extended to the KOSDAQ market, which performed poorly last year. The KOSDAQ rose 7.36 points or 1.44 percent to 518.05.

The Seoul bourse has continued its winning streak for four days with the Monday market boosted by strong foreign buying. Foreign investors net-bought stocks worth 311 billion won while individuals sold stocks worth 368 billion won.

Kim Soo-young, a strategist at KB Investment & Securities, said the recent stock market rally was supported by expectations over the U.S. economic recovery and prospects for domestic companies’ continued earnings improvement.

Kim added that one of the major concerns in the financial market is China’s tightening of its monetary policy, but the intensity of the policy has been somewhat slight so far.

In general, the Seoul bourse is immersed in the rosy expectations that the KOSPI could reach the 2,400-mark this year.

The top stocks bought by foreigners included Kia Motors, Samsung Life Insurance, Hyundai Mobis, Samsung Electronics and LG Display.

Samsung Electronics rose 0.95 percent to a record high of 958,000 won while Kia Motors grew 3.75 percent to 52,500 won.

주가 2,070으로 최고치 경신

2011년 새해 첫 거래일인 월요일, 국내 주가는 1956년 개장 이후 가장 높은 2,070.08 포인트를 기록했다.

이는 지난 12월 30일 종가보다 19.08 포인트 오른 수치로 2007년 10월 31일 세운이전 최고치인 2064.85보다도 5 포인트 이상 높다. 이는 금년 주식시장이 달아오르리라는 기대하에서 올라간 것으로 나타났다.

시가 총액은 1,152조원으로 역시 역대 최고치이다.

원화가치는 달러당 8.3원이 떨어진 1,126.5원을 기록했다. 이 같은 호전 기조는 코스닥에도 미쳐 7.36포인트 오른 518.05 포인트를 기록했다.