Korean stock markets rise as Korea welcomes new president

The local bourse rallied on Wednesday, bolstered by foreign investors and institutions, as Korea welcomed a new president.

The benchmark KOSPI hit a fresh high to close trade today at over 27-70, soaring more than 2-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.