[
THE INVESTOR] Foreign investors bought Korean stocks for a third straight session, fueling expectations that the benchmark KOSPI could break this year’s record high, data showed on April 25.
Foreign buying between April 20-24 came to nearly 700 billion won (US$617 million), according to data from Korea Exchange, the local bourse operator.
The benchmark KOSPI rose 2.39 points, or 0.11 percent, to 2,176.13 in the first 15 minutes of trading on April 25. Foreign buying of local stocks boosted expectations that the country‘s benchmark index could break this year’s record high of 2,178.38 set on March 21.
The development came amid upward revisions on Korea’s growth forecast for this year and improved corporate earnings.
Lee Chang-mok, an analyst at
NH Investment & Securities, said the KOSPI could break a record high this year as its upward momentum could persist due to a recovery in the worldwide economy and improved corporate earnings.
By Alex Lee and newswires (
alexlee@heraldcorp.com)