The Korea Composite Stock Price Index on Sept. 15 surpassed 3,400 for the first time in history, breaking its all-time high for the fourth consecutive trading day. Shown is a screen showing the historic finish that day at the dealing room of Hana Bank headquarters in Seoul's Jung-gu Districct. (Yonhap News)

By Lee Dasom

The Korea Composite Stock Price Index (KOSPI) has broken through the 3,400 mark.

Korea Exchange (KRX) on Sept. 15 said KOSPI closed at 3,407.31, up 11.77 points (0.35%) from the previous session for its 10th consecutive day of growth and fourth straight time to set an all-time high.

The exchange said the market opened higher thanks to alleviated uncertainty over tax policy and the continued strength of the KRW during trading, leading to foreign buying, particularly in electrical-electronics stocks.

Foreign investors posted their sixth consecutive day of net buying with KRW 266.8 billion.

Foreign financial institutions said factors raising investor sentiment included the Lee administration's market-friendly policy, predictions of an interest cut in the U.S. and improved outlook for semiconductors.

Another positive influence on the market was the government's decision the same day to keep the scope of capital gains tax on major shareholders at KRW 5 billion or more worth of stock holdings.

The over-the-counter market KOSDAQ, meanwhile, rose 5.61 points to close at 852.69. This was its first 10-day growth streak in four years.

dlektha0319@korea.kr