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KOSPI sets fresh record high, rising above 2,700 points Updated: 2020-12-04 16:47:09 KST

The benchmark KOSPI on Friday ended at an all-time high, up more than 1.3 percent to close at 2,7-hundred-and-31.
The index at one point reached as high as 2,742, marking a historic intra-day high.
South Korea's main bourse has logged new highs every day since the start of December backed by strong foreign buying.
Investors are optimistic about the distribution of COVID-19 vaccines, which will reportedly start in the coming weeks and months.
Foreign investors bought over 766 billion won worth of Korean stocks in hopes that Asia's fourth-largest economy will benefit from vaccine development.

"Clearly, the positive implication is that there is some news from the pharmaceutical side that the vaccine will come throughEven though there is concern about the export and the global economic growth rate, nevertheless, (South) Korea seems to be quite well."

The strengthening local currency also contributed to foreign buying.
The Korean won closed at 1,082 against the U.S. dollar, up 14.9 from the day before.

"The Korean won is strong overall on an increase in demand for non-contact products and services, improvements in exports such as semiconductors and improvements in the free trade environment."

The tech-heavy KOSDAQ also closed higher, at almost 914, zero.6-8 percent from the previous session.
Market watchers and investors are keeping a close eye on whether the market can continue its momentum through the end of the year.
Min Suk-hyen, Arirang News.
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