KOSPI Tops 7,500 After 13% Weekly Jump, Raising Pullback Question

The KOSPI surged more than 13% last week and closed at 7,498 on May 8. During trading on May 7, it climbed as high as 7,531, moving above the 7,500 level. The domestic market’s week was summed up by the phrase, “It hit 7,500.” The key figures are a weekly gain of more than 13%, an intraday high of 7,531, and a May 8 closing level of 7,498. Market attention now centers on whether the move above 7,500 will continue or whether the index will give back part of its sharp short-term rise. Source: mk.co.kr