Seoul: Shares notch longest winning streak since June on stimulus hopes
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[SEOUL] South Korean shares on Thursday notched their longest stretch of gains since June, as investors relied on stimulus hopes while a surprise jump in US inflation also lifted sentiment.
The benchmark Kospi was up 5.18 points, or 0.21 per cent, at 2,437.53.
Unexpectedly strong US inflation raised hopes about a faster economic recovery, and there is a strong belief in the market that policies will continue to support the economy, said Shin Joong-ho, an analyst at eBest Investment & Securities.
The Kospi rose 10.91 per cent so far this year, and gained 15.5 per cent in the previous 30 trading sessions.
The trading volume during the session in the Kospi index was 892.47 million shares.
Of the total traded issues of 902, the number of advancing shares was 479.
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