Stock Transactions Surging Day by DayStock transactions are surging day by day. The Composite Index decreased slightly on November 6 but the transaction volume soared to 222 million shares, which is the highest in history.
Individual investors have returned to the market. The number of accounts increased from 965 million in September to 973 million in November. The total sum of money, which individuals entrusted to securities company to buy securities, surged from 1.63 trillion won at the beginning of October to 2.54 trillion in November.
Foreign money has rushed into a variety of Asian stock markets since the value of the yen dropped to 110 yen against the U.S. dollar on October 7. More than 1.1 billion dollars flew into the markets of Korea, Taiwan, and Thailand. Among them, 700 million dollars gathered into Korea.
A Morgan Stanley analyst was quoted in Reuters saying, 'The price of Asian stocks will grow by 20 to 30% in five months and, especially, the price-earning ratio of Korean companies will increase by more than 500%.' The Composite Index surged by 60 points from October 27 to November 5.
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