Stock Market Flexes its Muscles Again

The Korean Stock Composite Index(KOSPI) on April 19 notched a record single-day rise of 41.45 points or 5.7 percent to close at 766.59.
Thus, not only was the 760 level easily surpassed but also the old record of 41.09 points in a single day, recorded on December 19, 1998.
KOSPI is at its highest mark since July 12, 1997's 767.27 points.
The market was burning up right from the opening bell as investors, who seemingly could hardly wait for the weekend to be over, drove 373 items up while 404 shares fell during the frenzied day of trading.
Experts predict that the conditions both inside and outside Korea are good enough to maintain the current vitality for a while, as foreigners also eagerly invested into the market.
However, industry specialists cite that it is being led by so-called 'Big Hands', which generate more declining than rising shares and usually only benefits large, institutional investors rather than individual investors.
Hwashik Bong : trojans@joongang.co.kr