KOSPI rises to new all-time high for 5th straight day

The KOSPI index is shown on an electronic board at the Hana Banks dealing room in Jung-gu Seoul after the market closed on Sept 15 Yonhap — The KOSPI index is shown on an electronic board at the Hana Bank's dealing room in Jung-gu, Seoul, after the market closed on Sept. 15. Yonhap

SEOUL, September 16 (AJP) - South Korea's benchmark KOSPI index surged at the open on Tuesday, hitting a new all-time high for the fifth consecutive trading day and extending a historic rally.

As of 9:23 a.m., the KOSPI was trading at 3,428.88, up 21.57 points (0.63 percent) from its previous close. The index opened strong at 3,421.13, immediately surpassing the record of 3,407.31 set just Monday.

The new record marks the 11th consecutive session of gains for the index, driven by a positive overnight close on Wall Street.

All three major U.S. indices finished higher on Monday (local time). The Dow Jones Industrial Average gained 49.23 points (0.11 percent) to close at 45,883.45. Both the S&P 500 and the Nasdaq Composite closed at new record highs, rising 0.47 percent and 0.94 percent, respectively.

In the KOSPI market, major tech stocks are leading the advance. SK hynix is trading up 2.04 percent at 337,750 won, while market leader Samsung Electronics rose 0.52 percent to 76,900 won.

AJP njeongju@ajupress.com