Korean stock markets rise as Korea welcomes new president

The local bourse rallied on this Wednesday bolstered by foreign investors and institutions.

The benchmark KOSPI hit a fresh high to close trade today at over 2-thousand-7-hundred-70 soaring more than two percent from its previous session.

This is the first time in some ten months that the index has closed above the 2-thousand-7-hundred-70 mark.

The tech heavy KOSDAQ also gained more than one percent to end at over 7-hundred-50.