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KOSPI gains 2.94 pct in first 30 days of Moon's presidency

All Headlines 14:07 June 08, 2017

SEOUL, June 8 (Yonhap) -- The nation's benchmark stock index rose 2.94 percent as President Moon Jae-in marks his first 30 days of taking office, according to the Korea Exchange on Thursday.

The Korea Composite Stock Price Index (KOSPI) ended daily trading at 2,360.14 on Wednesday, compared with 2,292.76 on May 8.

During the period, the KOSPI's total market value climbed by some 41 trillion won (US$36.4 billion) to 1,528 trillion won.

The KOSPI's gain came as the global economy is showing signs of a moderate recovery and better-than-expected earnings by South Korean firms in the first quarter.

Lee Chang-mok, head of the research division at NH Investment & Securities, said some foreign investors appeared to have positively responded to the new government's policy of reforming governance of family-run business conglomerates.

Over the past two months, foreign investors purchased a net 3.3 trillion won worth of local stocks, according to the stock exchange.
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