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KOSPI Soars 4.8% on Foreign Buying

테크인코리아 2011. 8. 16. 23:42

KOSPI Soars 4.8% on Foreign Buying

Write 2011-08-16 16:09:02   Update 2011-08-16 19:29:37

South Korean shares surged past the 1800 mark on the back of foreigners’ active buying.

The benchmark Korea Composite Stock Price Index (KOSPI) on Tuesday soared almost 86 points, or four-point-83 percent, to close at 1880.

The index was boosted by the news that four European countries, including France and Italy, banned short selling and that U.S. retail sales posted its biggest gain last month.

The tech-heavy KOSDAQ also jumped 22 points, or four-point-66 percent, to finish at 496.

On the Seoul foreign exchange market, the local currency gained eight-point-five won against the U.S. dollar to close at one-thousand-seventy won to the greenback.