April 20, 2024
Stocks & Bonds
KOSPI tops stock market performance worldwide
[THE INVESTOR] Korea’s stock market has performed the best worldwide over the past month, data showed on May 23.
The benchmark KOSPI closed at 2,288.48 on May 19, up 7 percent from a month earlier and marking the highest rise among bourses in major advanced and emerging markets, according to the data by the Korea Exchange and the Korea Center for International Finance.
France’s CAC 40 Index followed with a 6.4 percent gain, trailed by Japan’s Nikkei 225 with a 6.3 percent increase, the Hong Kong Hang Seng Index with 5.7 percent and Germany’s DAX with 5.2 percent.
Analysts said the main drivers of Korea’s bull run are strong foreign buying of undervalued stocks and upbeat forecasts of companies’ earnings down the road.
The key stock index is expected to continue its upward momentum this year thanks to marked improvements in corporate earnings, the undervaluation of local stocks and Korea’s strong economic fundamentals.
By Alex Lee and newswires (alexlee@heraldcorp.com)
The benchmark KOSPI closed at 2,288.48 on May 19, up 7 percent from a month earlier and marking the highest rise among bourses in major advanced and emerging markets, according to the data by the Korea Exchange and the Korea Center for International Finance.
France’s CAC 40 Index followed with a 6.4 percent gain, trailed by Japan’s Nikkei 225 with a 6.3 percent increase, the Hong Kong Hang Seng Index with 5.7 percent and Germany’s DAX with 5.2 percent.
Analysts said the main drivers of Korea’s bull run are strong foreign buying of undervalued stocks and upbeat forecasts of companies’ earnings down the road.
The key stock index is expected to continue its upward momentum this year thanks to marked improvements in corporate earnings, the undervaluation of local stocks and Korea’s strong economic fundamentals.
By Alex Lee and newswires (alexlee@heraldcorp.com)
