Korea’s stock transactions surged to a 33 month-high in February due to the influx of investors attracted by rising share prices, data showed Thursday.
According to the data by the Korea Exchange and the Bank of Korea, 13.2 billion shares were bought and sold last month, up 53.6 percent from 8.6 billion shares traded in January.
Last month’s trading volume was the highest since May 2009, with the total value of shares changing hands reaching a six-month high of 143.8 trillion won ($127.1 billion). This represents a gain of 32.7 percent from the 108.3 trillion won worth of shares transacted the month before.
“The general rise in local stock prices in 2012 fueled trading that was further buoyed by new investors entering the market,” said Lee Da-seul, an analyst for Korea Investment and Securities Co.
The benchmark Korea Composite Stock Price Index soared to 2,030.25 as of Feb. 29 from 1,826.37 on Jan. 2.
Jeon Hyo-chan, a research fellow at Samsung Economic Research Institute, also said there was a noticeable rise in trading of low priced shares in February, hinting that small-time private investors entered the market on the back of recent stock market gains.
(Yonhap News)
