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KOSPI rises for 13 consecutive sessions on Tuesday, marking its longest winning streak

2019-04-16 1 Dailymotion

코스피 13거래일 연속 상승 '역대 최장'…2,250선 '턱밑'<br /><br />South Korea's benchmark KOSPI rose for the 13th consecutive session today - the longest ever winning streak.<br />Analysts point to more foreigners buying Korean shares.<br />Our Ko Roon-hee explains. <br /> In Tuesday's session, Korea's benchmark KOSPI closed at around 22-49,... up 0-point-26 percent.<br />This marks the highest close in more than 6 months.<br />It was the 13th session of gains in a row for the KOPSI, tying a record set back in 1984.<br />As for why, analysts point to more investment by foreigners. <br />They bought around 135-and-a-half million U.S. dollars' worth of shares on Tuesday... for a total during this streak of gains worth around 2-point-2 billion.<br />Market watchers say foreign investors were upbeat for several reasons.<br />"The U.S.-China trade tensions are easing. Also, global economic indicators are showing signs of a rebound. And most importantly, we should look at monetary policy. Countries including the U.S. are holding their interest rates steady. This is having a positive impact on the stock market."<br />Others point out, though, that this is not necessarily good for the market overall.<br />"This buying is concentrated in certain companies... like Samsung Electronics, SK hynix and Samsung Electro-Mechanics. So the consecutive rises don't mean that the overall stock market is improving."<br /> Meanwhile, Korea's tech-heavy, junior index, the KOSDAQ, closed at around 7-hundred-65... down 0-point-23 percent.<br />The Korean currency closed at around 1-thousand-1-hundred-and-36 won against the U.S. dollar, up more than 2 won from the previous close. <br />Ko Roon-hee, Arirang News. <br />

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