Kospi passes 2,800 for first time as Korea secures more vaccines

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Kospi passes 2,800 for first time as Korea secures more vaccines

The trading room at Hana Bank in central Seoul on Thursday shows the Kospi index closed at 2,806.86, up 1.7 percent compared to the previous trading day. After starting off strong, the Kospi ended up breaking the 2,800-mark for the first time ever. [YONHAP]

The trading room at Hana Bank in central Seoul on Thursday shows the Kospi index closed at 2,806.86, up 1.7 percent compared to the previous trading day. After starting off strong, the Kospi ended up breaking the 2,800-mark for the first time ever. [YONHAP]

Seoul’s main bourse hit a new record on Thursday, passing the 2,800-mark for the first time ever, following news that Korea secured additional Covid-19 vaccine supply deals.
 
The benchmark Kospi closed at 2,806.86 on Thursday, up 1.7 percent, or 47.04 points, compared to the previous day.  
 
Breaking the 2,800-mark comes only 14 trading days after the index passed 2,700 for the first time on Dec. 4.  
 
Retail investors net sold 751 billion won ($681.6 million) worth of shares while foreigners bought 117 billion won and institutional investors purchased 632 billion won.
 
The main index started off strong on the announcement by Prime Minister Chung Se-kyun that Korea secured additional Covid-19 vaccines by inking purchase deals with Pfizer and Janssen.  
 
With the latest deals, the Korean government has sufficient vaccine doses for 26 million people so far, including doses from the first deal signed with AstraZeneca earlier this month.  
 
Most large caps saw their shares rise, with winners outnumbering losers by 593 to 246.
 
Samsung Electronics grew 5.28 percent to 77,800 won, SK hynix added 1.72 percent to 118,000 won and LG Chem rose 1.49 percent to 818,000 won.
 
Pharmaceutical giant Samsung Biologics fell 0.25 percent to 794,000 won and Celltrion lost 2.11 percent to 347,500 won.  
 
BY KIM JEE-HEE   [kim.jeehee@joongang.co.kr]
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