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Kospi renews record high closing above 3,305 points

An electronic signboard at the trading room of Hana Bank in Seoul shows the benchmark Kospi closed 0.36 percent higher at 3,305.21 points, refreshing a record high closing Tuesday. (Yonhap)
An electronic signboard at the trading room of Hana Bank in Seoul shows the benchmark Kospi closed 0.36 percent higher at 3,305.21 points, refreshing a record high closing Tuesday. (Yonhap)
South Korea’s benchmark stock index refreshed its record high closing on Tuesday, backed by foreigners and institutional investors’ extending buying sprees for two days.

The Kospi index closed at 3,305.21, up 12 points or 0.36 percent, from the previous session’s close. It broke the previous record of 3,302.84 from June 25 but failed to reach as high as its all-time high of 3,316.08 set during intraday trading on the same day.

Offshore investors and institutions purchased a net 223.5 billion won ($197.70 million) and 71.2 billion won, respectively, while retail investors offloaded a net 294 billion won.

The country’s tech-heavy Kosdaq closed at 1,044.96, down 2.37 points or 0.23 percent, from the previous session. It started off slightly higher but wrapped up trading by ending a sixth-day winning streak as both foreigners and institutional investors turned net sellers.

By Jie Ye-eun (yeeun@heraldcorp.com)
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