SEOUL, June 18 (AJP) -South Korea's benchmark KOSPI crossed another four-digit threshold on Thursday, racing from 7,000 to 9,000 in less than two months in one of the fastest equity rallies in its history.
The index closed 2.4 percent higher at 9,072.86, up nearly 50 percent from 6,191.92 just two months ago. The latest milestone arrived in 22 trading sessions after KOSPI first broke above 8,000 on May 15.
The pace itself has become the story.
The benchmark has climbed a thousand points almost every few weeks — from 4,000 in October last year to 5,000 in January, 6,000 in February, and then vaulting through 7,000 and 8,000 in May before touching 9,000 on Thursday.
At the current speed, market landmarks that once took years to conquer now vanish in a matter of days.
As of Wednesday, the KOSPI had surged 110.34 percent since the start of the year, making it the world's best-performing major equity market.
Each new thousand-point milestone now arrives with less celebration and more anticipation of the next as the market has stayed unfazed by external shocks.
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