Stock Index Recovers to 400 Level in Six Months

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Stock Index Recovers to 400 Level in Six Months

The Korean Stock Price Index (KOSPI) recovered to the 400 mark on October 31 for the first time in six months.
KOSPI rose sharply by 18.69 points closing at 403.44 for the day. KOSPI surpassed the 400 level for the first time since it posted 406.53 on May 2.
The rise can be attributed to the prospects that the Japanese yen will continue to rise and the lowering of interest rates by the U.S., and in particular the current recovering signs of the Korean economy.
Recently, the Korean economy is improving remarkably with the number of bankruptcies diminishing and the trade surplus increasing.
Additionally, the news that Chung Ju Young, honorary chairman of Hyundai group, met with Kim Jong Il, leader of North Korea, helped to lift stock prices.
Foreign investors, especially, bought increased numbers of shares in the stock market. This, for the first time in a while, reflects a more optimistic view by investors.
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