KOSPI Surge

[Anchor Lead]

Amid some economic worries, the benchmark KOSPI surpassed 2,100 points for the first time in a year and 7 months on Tuesday. There are more expectations the index may finally rise above recent fluctuations to new heights.

[Pkg]

The benchmark KOSPI rose more than 18 points to exceed the 2,100 mark on Tuesday. It's the first time in 19 months for the KOSPI to close at that level. Market capitalization has also recorded an all time high, surpassing 1.19 trillion dollars. The surge was led by foreign and institutional buying. Foreign investors purchased nearly 89.5 million dollars' worth of domestic shares. Reports of brisk export figures in February and an anticipated global economic recovery have also fueled the upswing. Korean exports grew two and a half percent year-on-year last November and the recovery trend continues this month. Amid this upbeat mood, expectations are rising that the KOSPI will finally rise above its box patten fluctuations this year. The Korea Exchange assessed the Tuesday rally was based on favorable market conditions of major economies and improved economic data, adding there is more room for a bullish bourse. However, some pundits say that if U.S. President Donald Trump's proposed tax revisions fail to meet market expectations and US share prices suffer a drop, the Korean stock market could also follow suit.