The main Kospi bourse rallied to gain more than 2 percent on Wednesday as investors bet high on the possible economic recovery spearheaded by a massive supplementary budget and the end of coronavirus lockdowns around the world.
Stocks rose by more than 1 percent Tuesday, extending a winning streak to a third consecutive session on hopes for economic reopening, despite uncertainties from the spreading protests against police violence in the United States.
The Kospi is displayed on a screen in the dealing room of Hana Bank, in Jung Distict, central Seoul, Monday. The Kospi climbed 35.48 basis points, or 1.75 percent, breaking the 2000 mark as institutional and foreign investors scooped up shares.
Stocks finished a tad higher Wednesday despite escalating tension between the United States and China, as investors sought to scoop up bargains amid growing hopes of an economic recovery. The won fell against the dollar.
Stocks closed higher Wednesday, extending the winning streak to a fourth session on foreign and institutional buying. The local currency fell against the dollar.The Kospi added 9.03 points, or 0.46 percent, to close at 1,989.64.
Stocks closed higher Wednesday as investors scooped up bargains amid renewed concerns over the trade dispute between the United States and China. The benchmark Kospi moved up 18.25 points, or 0.95 percent, to finish at 1,940.42.