KOSPI Breaks 500 Mark

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KOSPI Breaks 500 Mark

The Korean Stock Price Index finally broke through the 500 barrier on December 7.
As of December 7, it notched 514.52 points, 23.81 points higher than last week's.
It is first time the 500 level has been seen in 8 months. The strong surge was precipitated by the conclusion of top five chaebol's restructuring talks together with a reduction of European interest rates.
Moreover, the American credit rating agency Moody's Investors Service Inc. raised the rating for won-denominated Korean bonds which also made an impact on the Korean market.
76 stocks reached their limit price while another 593 share prices recorded a net gain and only 181 prices went down.
Experts are warning, though, that this kind of surge does not represent future stability as there is a strong possibility the index could rapidly go down again.
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