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KOSPI rises for 13 consecutive sessions on Tuesday, marking its longest winning streak Updated: 2019-04-17 04:01:11 KST


In Tuesday's session, Korea's benchmark KOSPI closed at around 22-49, up 0.26 percent.
This marks the highest close in more than 6 months.

It was the 13th session of gains in a row for the KOPSI, tying a record set back in 1984.

As for why, analysts point to more investment by foreigners.
They bought around 135-and-a-half million U.S. dollars' worth of shares on Tuesday for a total during this streak of gains worth around 2.2 billion.

Market watchers say foreign investors were upbeat for several reasons.

(KOREAN- / )
"The U.S.-China trade tensions are easing. Also, global economic indicators are showing signs of a rebound. And most importantly, we should look at monetary policy. Countries including the U.S. are holding their interest rates steady. This is having a positive impact on the stock market."

Others point out, though, that this is not necessarily good for the market overall.

(KOREAN- / )
"This buying is concentrated in certain companies like Samsung Electronics, SK hynix and Samsung Electro-Mechanics. So the consecutive rises don't mean that the overall stock market is improving."

Meanwhile, Korea's tech-heavy, junior index, the KOSDAQ, closed at around 7-hundred-65 down 0.23 percent.
The Korean currency closed at around 1,1-hundred-and-36 won against the U.S. dollar, up more than 2 won from the previous close.
Ko Roon-hee, Arirang News.
Reporter : krh@arirang.com
KOGL : Korea Open Government License
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