The Korea Exchange reported a historic milestone as the country’s stock market capitalization exceeded KRW 3,000 trillion for the first time. This achievement was showcased on the stock price display board at the Korea Exchange in Seoul’s Yeongdeungpo-gu District on July 10.
On July 11, the Korea Exchange disclosed a market cap of KRW 3,020.77 trillion at the close of the previous day’s trading. The Korea Composite Stock Price Index (KOSPI) accounted for KRW 2,603.74 trillion, while the Korea Securities Dealers Automated Quotations (KOSDAQ) and Korea New Exchange contributed KRW 413.86 trillion and KRW 3.17 trillion, respectively.
The surge in the stock market was largely driven by the remarkable performance of KOSPI, which witnessed a substantial increase from KRW 1,963.45 trillion in January to KRW 2,600 trillion on July 10, marking a significant 32% rise. This surge led the benchmark index to set a new record high for two consecutive days.
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The record-breaking market cap and index levels were attributed to various factors, including expectations surrounding the Lee administration’s stock market policies and the growing number of listed shares. The domestic market saw a 0.94% increase in the number of shares from 113.95 billion at the end of the previous year to 120.47 billion on July 10.
Both KOSPI and KOSDAQ continued their positive momentum, closing higher for the fourth consecutive day on July 10. The government’s efforts to stimulate the stock market and the optimistic investor sentiment played a significant role in driving the market’s performance.
Industry experts emphasize that the resurgent stock market is a reflection of the ongoing efforts to boost investment and economic growth in South Korea. The market’s record-breaking achievements underscore the country’s position as a key player in the global economy and highlight the positive outlook for future market developments.
As the stock market continues to thrive, investors and analysts are closely monitoring the evolving market trends and government policies to gauge the sustainability of this upward trajectory. The recent milestones achieved by the Korea Exchange signal a promising outlook for the country’s financial markets and economic landscape.
For further inquiries, contact msjeon22@korea.kr for more insights into the evolving dynamics of the Korean stock market and its implications for investors and the economy at large.
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