Seoul index rises to a 68-month high
The benchmark Kospi rose 21.37 points, or 0.99 percent, to 2,178.38 on Tuesday, breaking a record of 2,180.59 set on July 11, 2011.
Foreign investors scooped up local shares worth 363.2 billion won ($324.3 million). Institutions and retail investors net sold 184.1 billion won and 236.6 billion won in stocks.
Analysts said the U.S. Federal Reserve showing no intention of raising the rate increase last week improved market sentiment.
By sector, automobiles added 3.6 percent and IT software grew 2.4 percent.
Market bellwether Samsung Electronics gained 1.58 percent to close at 2,128,000 won, a fresh high.
Hyundai Motor catapulted 8.63 percent to 170,000 won Tuesday. Analysts speculated that a Goldman Sachs report on Monday projecting the automaker’s restructuring would add “significant value” has led investors to take a positive outlook.
Its sister company Kia Motors climbed 3.51 percent to 38,300 won and affiliate auto parts manufacturer Hyundai Mobis rose 3.05 percent to 253,500 won.
Naver soared 6.48 percent while LG Chemicals moved up 4.24 percent to 295,000 won.
Chipmaker SK Hynix inched down 0.11 percent to 47,550 won and steelmaker Posco fell 1.18 percent to 293,000 won. KB Financial Group slid 0.59 percent to 50,600 won.
The secondary Kosdaq also closed higher, up 0.62 points, or 0.1 percent, to 609.73. While Celltrion fell 1.86 percent to 89,800, other pharmaceutical companies rose. Medytox advanced 1.47 percent to 414,600 won and Komipharm surged 7.82 percent to 36,550 won.
Kakao added 1.41 percent to 86,100 won and CJ E&M, CJ’s entertainment unit, rose 2.80 percent to 80,800 won.
The Korean won closed at 1,120.3 won against the greenback, down 0.2 won.
BY CHOI HYUNG-JO, YONHAP [choi.hyungjo@joongang.co.kr]
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)