Kospi starts week at nine-month high
A screen at Korea Exchange Bank in Jung District, central Seoul, shows the Kospi’s close on Monday. [NEWS1]
Foreigners bought 172 billion won ($167.7 million) in shares and institutions purchased 126.5 billion won.
Several large-cap shares fell, but not Samsung Electronics, which added 0.22 percent to close at 1.36 million won. LG Electronics lost 0.92 percent to 75,300 won and battery maker Samsung SDI discharged 2.79 percent to 157,000 won.
SK Hynix lost 2 percent to 46,550 won, LG Display fell 4.49 percent to 31,900 won.
Hyundai Motor lost 0.22 percent to 227,000 won and auto parts maker Hyundai Mobis also fell, dropping 0.18 percent to 281,000 won. Kia Motors was up 0.53 percent to 57,100 won.
Posco rallied 2.61 percent to 334,500 won, while its smaller rival, Hyundai Steel, shot up 5.33 percent to 79,000 won.
Naver, the nation’s largest search portal by market share, climbed 0.92 percent to 764,000 won. Its competitor, Daum, dropped 3.04 percent to 127,700 won.
Samsung Securities gained 2.99 percent to 48,200 won, while Kiwoom Securities shot up 4.27 percent to 47,600 won. Mirae Asset Securities added 3.1 percent to 46,550 won.
The won weakened 0.40 to 1,026.30 per dollar at the close.
“Expectations for the Bank of Korea to lower interest rates will limit the won’s gains,” said Bak Jae-sung, a Seoul-based currency dealer at Woori Bank.
The yield on sovereign bonds was little changed, with the rate on notes due June 2017 at 2.50 percent and that on debt maturing March 2024 at 3.01 percent.
BY KIM EUN-JI, BLOOMBERG [eunjik@joongang.co.kr]
with the Korea JoongAng Daily
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