The benchmark KOSPI reclaimed the 7,000 mark Wednesday in Seoul, led by chip stocks despite worries over Middle East tensions and higher oil prices. It closed at 7,051.64, up 1.4 percent, for its first finish above 7,000 since July 23. Institutional investors bought 942 billion won worth of shares, while retail and foreign investors sold.
The KOSPI index is displayed in the dealing room of Hana Bank in Seoul, Wednesday. The benchmark index closed at 7,051.64, up 1.4 percent from the previous session, reclaiming the 7,000 mark for the first time in 33 trading days. Yonhap
The benchmark KOSPI reclaimed the 7,000 mark Wednesday, with chip stocks leading the rally despite lingering concerns over escalating tensions in the Middle East and rising oil prices.
It marked the first close above 7,000 since July 23.
The KOSPI closed at 7,051.64, up 1.4 percent from the previous session. The index opened 18.35 points, or 0.26 percent, higher at 6,972.87 and extended its gains throughout the session.
