Blue-chip surge lifts index, but experts say discount debate not over yet
South Korea’s benchmark stock index Kospi surged past the 5,000-point mark for the first time during trading Thursday, raising expectations that the long-standing “Korea discount” — a term referring to the relatively low valuation of domestic stocks — may finally be fading.
After opening at 4,987.06, up 1.57 percent from the previous session, the Kospi quickly surged past the 5,000 mark for the first time, reaching as high as 5,019.54. The index partly pared the gains in the following hours, standing at 4,992.39 as of 2 p.m., up 1.68 percent, from the previous session.
With the Kospi climbing to a fresh
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