Exports jump pushes index past 2,100
The benchmark Kospi rose 18.54 points, or 0.89 percent, to close at 2,102.93 on Tuesday. This is the first time in 19 months that it went above 2,100. In July 2015, the index closed at 2,104.41.
Aside from the promising report on exports, Kim Ye-eun, an analyst at LIG Investment & Securities, said foreign and institutional buying drove up the index.
Foreigners scooped up 121.3 billion won ($105.9 million) in shares, while institutional investors net bought shares worth 158.6 billion. Individual investors, on the other hand, offloaded 319.6 billion won worth.
Most local stocks were solid Tuesday. By sector, transportation rose 3.1 percent and securities by 2 percent. IT software climbed 1.7 percent and construction by 1.5 percent.
Market bellwether Samsung Electronics inched up 0.72 percent to 1,947,000 won and SK Hynix rose 2 percent to 50,900 won. Naver, the nation’s portal giant, advanced 1.15 percent to 790,000 won and top steelmaker Posco rose 1.41 percent to 288,500 won.
While Hyundai Motor and Kia Motors inched up 0.67 percent and 0.53 percent each to close at 151,000 won and 38,000 won, their affiliate auto parts maker Hyundai Mobis shed 0.38 percent to 260,000 won.
The secondary Kosdaq rallied for a fifth trading day Tuesday, rising 2.5 points, or 0.4 percent, to 622.47.
Pharmaceutical companies Celltrion, Medytox and Komipharm all gained, up 0.2 percent to 101,000 won, 2.35 percent to 426,300 won and 5.85 percent to 34,400 won each.
The local currency gained against the greenback on Monday, up 1.4 won to close at 1,146.1 won, continuing its fluctuation since U.S. President Donald Trump took office.
The yield on three-year government bonds remained fixed at 1.67 percent and 10-year yield increased two basis points to 2.2 percent.
BY CHOI HYUNG-JO, YONHAP [choi.hyungjo@joongang.co.kr]
with the Korea JoongAng Daily
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