Will the KOSPI hit a new historical high?

The Korean stock market breaks new ground prompting strategists to upgrade their price targets.

First, there was the eerie, impenetrable double top. On April 18, 2002, the KOSPI closed at 937.61 - a new high not seen since the bubble burst two years earlier - and then retreated. Almost exactly two years later, on April 23, 2004, the KOSPI peaked again at 936.06 - just one point away from the 2002 peak - and retreated once more. The index couldn't possibly break through this cement wall of resistance. But on February 7 of this year, it did.

Then, there was the 1,000 resistance level, invariably preceded by the catch-phrase psychologically significant. On February 28, this hurdle was also cleared, at least for a few days....

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