KOSPI’s 7,500 Breakout in Focus After 13% Weekly Surge

The KOSPI jumped more than 13% last week and closed at 7,498 on May 8. On May 7, it climbed as high as 7,531 intraday, moving above the 7,500 mark. Last week’s Korean stock market was summed up by the phrase, “It hit 7,500,” reflecting the strength of the rally. The key figures are a weekly gain of more than 13%, a May 8 close of 7,498, and a May 7 intraday high of 7,531. Market attention is now focused on whether the KOSPI can extend gains after breaking 7,500 or give back part of its sharp advance. Source: mk.co.kr