Kospi hits record-high in morning trade

South Korea’s first-tier stock market index hit an all-time high about five minutes after the market opened Thursday.

The benchmark Korea Composite Stock Price Index recorded 2,232.98 at around 9:05 a.m. Thursday, beating the record-high mark of 2,231.47 set on April 27, 2011.

The market opened at 2,224.91, up 5.24 points, or 0.35 percent, compared to the previous trading day Tuesday, when it closed at 2,219.67.

The market did not open Wednesday as it was a public holiday.

(Yonhap)

Kospi extended gains for two straight trading days, with market bellwether Samsung Electronics pushing the index up. Samsung Electronics was cruising to hit another record-high in the morning, as its stock stood at 2,271,000 won ($2,005) to hit another record-high, up 1.16 percent, or 26,000 won, as of 9:35 a.m.

The stellar performance came after the US Federal Reserve held its key rate steady in the range of 0.75-1 percent Wednesday.

The local currency was trading at 1.132.40 won against the dollar in the morning Thursday.

By Son Ji-hyoung (consnow@heraldcorp.com)